Bitcoin Falls Below 55000 Again ETF Investors Buy on Dips with Major Events in the Crypto Space This Week

Bitcoin once again falls below $55,000, ETF investors buy on the dip, with this week’s major cryptocurrency events
Update time: 11:19:28 Author: Crypto Voyager 2023
Coin World reports: Since Bitcoin fell below $53,500 last Friday, there has been a mild rebound over the weekend, with the price rising back to $58,400. After the “big pie” falls below $53,000, over 80% of mining rigs will shut down, so the editor believes that the probability of staying below this position for a long time is not great, and it may test $53,000 again to clear long leverages, then bounce upwards.
Today’s latest price of Bitcoin BTC
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BTC
Bitcoin
$55,243.02
-4.83%
1085.8 billion
$0.0025
$58,380.00
$54,420.58
Bitcoin BTC price trend chart
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On the morning of July 8th, Coin World’s market data shows that Bitcoin (BTC) has fallen below $55,000, currently reported at $54,790, with an intraday decline of 2.1%. The market is highly volatile, please investors exercise risk control.
Since Bitcoin fell below $53,500 last Friday, there has been a mild rebound over the weekend, with the price rising back to $58,400. After the “big pie” falls below $53,000, over 80% of mining rigs will shut down, so the editor believes that the probability of staying below this position for a long time is not great, and it may test $53,000 again to clear long leverages, then bounce upwards.
In addition, BlackRock’s Ethereum ETF will officially be listed next Friday evening (July 12th) when the US stock market opens. The market expects that the approval of this ETF will bring positive news, hence the bullish expectations are high. However, there might be a pullback after the good news is realized.
This week’s major cryptocurrency events:
1. Token Unlocking: Tokens worth over $170 million will be unlocked next week, with APT unlocking about $63 million. This may affect market supply, and the market reaction to the related tokens should be monitored.
2. Ethereum Spot ETF: The Ethereum spot ETF is more likely to be launched during the week of July 15th. The market has high expectations for this news, which may have a significant impact on the price of Ethereum.
3. The ETF Store President Nate Gera buys Bitcoin and Solana. This move demonstrates the upper echelon’s confidence in these two cryptocurrencies, which may attract market attention.
4. Meme coin sector prices generally fall, with several cryptocurrencies dropping more than 17% in 24 hours. Investors should be wary of the high volatility in this sector.
5. The German government continues to sell $BTC, holding 39,826 shares as of today. The government’s selling action may exert certain selling pressure on the market.
Project Dynamics
$ALEX – Alex announces the BRC20 bridge is now online, and the Rune bridge will be launched this week. This will provide users with more trading and cross-chain functions.
$ATH – Aethir Edge announces that from July 11th, all Edge devices will require staking $ATH to keep running. This may affect the demand and price of $ATH.
$DEGEN – Degen announces that Airdrop 2 Season 6 will start on July 11th. The airdrop event may trigger active participation and discussion in the community.
$ERN – Ethernity announces that L2 Beta testing will soon be open. The success of the test will affect its future development.
$MAVIA – The next trailer for “Heroes of Mavia” is about to be released. The release of the new trailer may increase market attention to the project.
$MNT – Mantle will upgrade the Sepolia Testnet through a hard fork on July 10th. The hard fork upgrade will improve network performance and security.
$NYM – Nym announces that NymVPN will be launched soon. This new product will provide users with more privacy and security protection.
$SOL – Solana Firedancer’s first version will launch its first bug bounty program on July 10th. The implementation of the bug bounty program will help enhance network security.