In the market, many investors are looking forward to July. However, the market performance is disappointing. The German government sold nearly 10,000 bitcoins, and the compensation of 142,000 bitcoins in Mt. Gox caused a sharp decline in the price of bitcoin. Bitcoin fell below $60,000, and even fell to $53,485. Ethereum also fell to $2,810, and other altcoins generally fell by more than 10%.

Market sentiment panic has reached a new low. dForce founder Mindao believes that the altcoin bull market may not come, and liquidity will flow more to stablecoins rather than BTC and ETH. The compensation distribution of Mt. Gox may ease market panic.

Blockstream CEO Adam Back pointed out that there have been many 30% declines in the historical bull market, and this decline is about 26%, suggesting that investors buy on dips. OX.FUN founder Zhu Su repurchased ETH at $2,900 and believed that this decline was not conspicuous on the long-term chart.

Crypto analysis company Santiment found that there was a historic panic on social media, which is an opportunity for bold traders. Willy Chuang, COO of WOO X, said that the compensation process of Mt. Gox has begun and the market panic may gradually dissipate.

Chris Burniske, partner of Placeholder, believes that it is impossible to get crazy returns without huge downside risks. Market declines provide opportunities, and panic in the market should be regarded as an investment opportunity.