Bitcoin price falls below $58,000: Is this a buying opportunity?
Reports that the German government sold a large amount of Bitcoin, the inappropriate remarks of the Federal Reserve Chairman, and the interest rate cuts are far away have exacerbated the selling pressure of miners. And the inflow of 140,000 Bitcoins into Mt. Gox, needless to say, whales have also sold and waited and seen, with multiple negative factors.
Ethereum also suffered a decline, with its price falling 3.44% in the past day,
Meanwhile, Solana fell 8.31%, and the price
XRP fell 4.33% to $0.4588.
Dogecoin fell 5.40% and traded at $0.1153,
while Shiba Inu fell 5.82% to $0.00001594.
Pepe Coin showed signs of a pullback and traded at $0.000009744.
Only one, Worldcoin, became a surprising winner, with its price rising 6.03% to $2.32.
So is it a good time to buy the bottom now?
According to on-chain data, the selling volume of Bitcoin and altcoins has reached the lowest point in two months. Although the spot Ethereum ETF is expected to be launched on July 15, the price of Ethereum fell below $3,200, and the panic intensified.
The current situation is adjusted for about a week. If 5.5 is maintained, you can slowly enter.
The 20274 bull market cannot be simply compared with past experience. It can be said that there is no support. You can smash it before the end of the year. This time you can even see 5.2.
So be bearish, but don’t hold a heavy position, wait and see and buy the bottom
Remember, BTC is at a high of 60,000, and every pullback is an opportunity
Now you can be patient and cautious, and only consider the current decline as a potential buying opportunity after thorough analysis.
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