On July 8, the bears tried to resume the downward trend in Bitcoin (BTC), but the bulls bought a dip. Since July 5, Bitcoin exchange-traded funds in the U.S. have seen inflows of more than $650 million, indicating steady demand at lower levels, according to Farside Investors. 😕

However, the selling pressure is unlikely to end soon. According to Arkham Intelligence, it appears that the German government is preparing to sell another 6,000 Bitcoin.

Uncertainty about additional Bitcoin supply in the markets weighed on sentiment. The Crypto Fear and Greed Index fell to 27, the lowest level since January 23, according to Glassnode.

Will Bitcoin be able to start a rebound in the coming days, pulling altcoins along with it? Let's analyze the charts of the top 10 cryptocurrencies to find out.