On July 5, 2024, several important events occurred in the Dexin cryptocurrency circle:

- 9 ETFs in the United States reduced their holdings by a total of 609 BTC.

- The founder of Wintermute pointed out that the current market situation is a seasonal phenomenon in the summer and is expected to recover in August and September.

- If Bitcoin falls to $55,000, it is expected that CEX contracts will have a long order liquidation of $620 million.

- Many mining machines are close to shutdown, which has an impact on the price of the currency.

- Ethereum has an on-chain loan liquidation quota of about $38.3 million around $2,975.

- A whale spent 70 million USDT to buy back 22,713 ETH after unloading leverage an hour ago.

- Biden's election probability fell to a record low, and Trump's election probability rose to 61%.

- On July 5, altcoins generally fell, with PEOPLE, ZK, AEVO, BAKE, and YGG all falling by more than 20%.

- The Fear & Greed Index hit a nearly one-year low, falling from 44 to 29.

- Technical analysis shows that the nearest support for Bitcoin is around $52,000, with strong support at $44,000.

- Mt. Gox has moved 47,000 BTC to another address.

- The German government is selling 50,000 BTC, and has sold 10,000.

- Bitcoin has recently been trading at a discount on Coinbase following the news and sell-off at Mt. Gox.

- The discount is recovering, indicating that U.S. investors are no longer selling en masse.

The price gap between Coinbase and Binance is narrowing, which is a positive sign.

- Bitcoin spot premium has fallen by about 50%, showing that spot selling has led to a price drop.

- Long posts or threads that may mark a market bottom discuss issues such as "cannot sustain a bull market", "ETF failure" and "no replacement cycle".

- Jupiter launched ape.jup.ag and plans to launch a new Solana chain trading method next week.

- Binance will support Galxe (GAL) tokens, swap, increase and upgrade the brand to Gravity on July 15.

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