📉 After a rough June, Bitcoin (BTC) may have hit rock bottom, says Bitfinex. The crypto giant took a nosedive below the 120-day range, reaching a low of $53,219. But fear not, crypto enthusiasts! Bitfinex believes the BTC plunge, partly triggered by German law enforcement's BTC sell-off, might soon stop. Why? Well, despite the German government's BTC transfer, it only represents a small fraction of all Bitcoin bought and sold since 2023. Plus, the drop in the spent output profit ratio (SOPR) and negative funding rates often indicate a market bounce-back. So, keep calm and HODL on! 🚀