10x Research experts predict Bitcoin will fall below $57,000 from over $60,000 on July 4. They suggest this sharp decline may just be beginning, potentially falling further into the $50,000 range. 😱

A sharp 5.44% drop in the price of Bitcoin (BTC) significantly affected investor sentiment and market liquidity. This is reflected in BTC's market capitalization of $1.1 billion and a 57% increase in trading volume.

The sales coincide with expected payouts from Mt. Gox $8.5 billion in BTC, which was supposed to begin in July.

A report from 10x Research maintains a cautious outlook for BTC price, advising traders to prioritize risk management ahead of ongoing volatility.

Long-term BTC holders, who typically hold their assets for approximately five to seven years, have contributed to the selling pressure in the market.