Bitcoin and Ethereum continue to fall under the selling pressure of the German and American governments, and the cryptocurrency market is experiencing its worst June and July in history. The selling behavior of the German and American governments has had a greater impact on the market than other factors. If the selling continues, it will be difficult for the market to improve effectively.
On July 8, the total market value of cryptocurrencies fell to $2.04 trillion, down 11.92% in the past seven days. Compared with its high point in early June this year, the cumulative decline of Bitcoin has exceeded 23%.
CoinGlass data shows that in the past 24 hours, a total of 82,391 people had their positions liquidated, with a total liquidation amount of $242 million, including $174 million in long positions and $68.1443 million in short positions.

On Monday, the German government began preparing for its largest bitcoin sell-off to date, sending $900 million worth of the digital currency to trading venues.
On-chain data from Arkham Intelligence shows that on July 8, more than 16,000 BTC left the exchange’s wallet, leaving 23,787.7 BTC ($1.35 billion) in its vaults.
Germany's largest bitcoin sale
The first signs of sustained selling in Arkham came at 8:32 a.m. ET on Monday.
The statement said the government sent 2,738.7 BTC ($155.3 million) to "likely exchanges and market makers," including Cumberland's Kraken, an unconfirmed address, and an address that may be associated with an institutional or over-the-counter trading service. Cumberland and the unconfirmed address were the first to receive government coins.

On July 5, the crypto market experienced another sharp drop, with BTC falling below $53,500. As of the time of writing, BTC has risen to $58,000. But whether it is the best time to buy the bottom is only known by the hand behind the market.
Similarly, whenever the crypto market falls back deeply, there is always a divergence between long and short positions in the market, and a lot of noise affects investment decisions. However, the biggest difference between this decline and the past is between Bitcoin and altcoins.
At the beginning of the bear-end bull market in October last year, BTC was floating at $25,000, and then it rose all the way to $73,777. At present, BTC has fallen by about 27.5%, but most altcoins have wiped out the gains and fallen to the starting point of this round of market. Mechanism Capital even said that more than 98% of altcoins have peaked in this cycle. In short, altcoins can no longer bear the weight of the decline, but the long and short sides of the crypto market still have different views and each has its own basis.

Hello everyone, I am Baidu, today we are going to talk about BRC-20 tokens!
BRC-20 is an experimental fungible token standard based on Bitcoin’s ordinal inscription. The introduction of ordered NFTs has sparked new interest in Bitcoin, allowing the community to explore the potential of its network to store data and create fungible tokens through the BRC-20 standard, breaking through Bitcoin’s programmable limitations.
The BRC-20 token was launched by an anonymous developer in March 2023. Different from the common token standard, it embeds JSON data into the serial number inscription to implement related functions. The first batch of tokens has specific definitions and restrictions. Although it is experimental in nature, it has caused a great response in the Bitcoin community, and related infrastructure providers have also begun to integrate.

Hello everyone, I am Baidu. Following the slow rebound in the early morning and the strong return in the morning, we saw that the bull is still there, it just takes time!
The market continues to fluctuate between $60,000 and $70,000, reaching a new all-time high ahead of schedule.
BTC continued to adjust downward in the short term. On June 24, it once fell below $61,000. Previously, I predicted that the market would enter a short-term clearing phase of weak equilibrium, and the first target of clearing would be Bitcoin miners. As the price of the currency fell, more and more miners sold all their daily output (maximum supply 450 coins/day) and also sold their solid inventory.

How long can this bull run of Bitcoin (BTC) last?
Hello everyone, I am Baidu. How far can the bull market go this year? Many people think that the bull market has ended, but I firmly believe that the bull market has just begun! During the decline of Bitcoin, each of us will feel more or less uncomfortable, because everyone is worried about whether the bull market is over.
Someone has judged the starting point and the end point of the bull market. If the bull market really ends, I may not buy at the bottom for one or two years. I will only be bearish, just like I was bearish in 2021 until the end of 2022.

Hello everyone, I’m Baidu! Is July a bad or good month for Shiba Inu?
Throughout June, the entire cryptocurrency market was in the red. The worst affected was Shiba Inu [SHIB], which fell 33%. Over the past 30 days, the asset's price has ranged from a high of $0.0000272 to a low of $0.0000165. SHIB rose 1.29% in the past 24 hours to $0.00001735. The market is linking this drop to previous years, trying to determine what caused it. In addition to the more than 33% drop last month, SHIB has fallen by 4.75%, 12%, and 11.5% by the end of June in 2021, 2022, and 2023, respectively.

Hello everyone, I am Baidu, today we are going to talk about sol!
Some experts believe that Solana (SOL) has the potential to reach $1,000 in the upcoming bull run, but this cannot be confirmed.
Factors that may contribute to the increase in SOL prices include:
- Technical advantages: Solana has high transaction speed and efficient infrastructure.
- Ecosystem Development: Its ecosystem is constantly expanding, and the development of applications such as DeFi, NFT and games may attract more developers and users.
- Overall market sentiment: The overall bullish sentiment in the cryptocurrency market could have a positive impact on SOL prices.

Hello everyone, I am Baidu!
Despite continued favorable price action from major cryptocurrencies and the U.S. stock market, sentiment towards altcoins appears to be at unusually low levels. Expectations instilled by previous cycles have left many feeling disappointed and incredulous while their portfolio returns have stagnated in an uptrend.
status quo
Market sentiment in the crypto space tends to be fickle, as people often exaggerate, especially when overexposed. Biases can change at a whim, so sentiment on social media cannot be a reliable indicator of forming an accurate market outlook. However, what we can do is plot some relevant data on a chart and analyze it to determine how dire the situation really is.