Points
- Bitcoin’svaluehasfallenbelow$60,000,markinga4%declinewithinasingleday.
- ThebroadermarketretreathasaffectedothermajordigitalassetslikeEthereum,DOGE,BNB,andLINK.
- Mt.Gox’srepaymentprocess,startingthismonth,couldincreasemarketsupplywithover$9billioninBitcoin.
- Investorsentimentremainsneutral,withtheFear&GreedIndexat48.
The cryptocurrency market is experiencing adownturn,withBitcoin’svalue recently falling below$60,000,representing a4%decline within a singleday.This recent decrease has impactedBitcoin,marking it as one of the most affected cryptocurrencies during a broader market downturn that has also influenced other major digital assets such asEthereum,DOGE,BNB,andLINK.
BroaderMarketRetreat
This decline coincides with a broader market retreat of over4%in the last24hours,affecting these majorassets.
It is important to note that the Fear&GreedIndex,a measure of marketsentiment,indicated a neutral position at48,suggesting that investors are neither overly fearful nor excessivelygreedy,though uncertaintyprevails.
Mt.GoxRepaymentsAddPressure
A contributing factor to this uncertainty is the anticipated repayment process byMt.Gox,set to begin thismonth.
Over$9billion in Bitcoin is due to be repaid to more than127,000creditors,many of whom may sell to realize theirprofits,adding selling pressure to themarket.
Furthermore,within Bitcoinexchange-tradedfunds（ETFs）in theU.S.have played a role in the ongoing marketsituation.After a period of inflows totaling$129.5million up until July1,a reversal occurred with an outflow of$13.7million on July2.
Theseoutflows,particularly a$32.4million withdrawal fromGrayscale’sBitcoinTrust,have countered earlier gains and raised investor concerns aboutBitcoin’spricestability.
🚨$BTC
🚨$BTC#ETFNetInflowJuly2,2024:-$14M!
•The net inflow turned slightly negative after being positive for5days.
•#Grayscale(GBTC)saw an outflow of$32.4M,larger than the sum of all other BitcoinETFs’inflows.
•#BlackRock(IBIT)had the largest inflow ofthe…pic.twitter.com/GvXMN34Gq6
https://twitter.com/spotonchain/status/1808354878663938277
PotentialPositiveShifts
https://x.com/ali_charts/status/1808341827579179328
Over$1billion will be liquidated if#Bitcoinnow rebounds to$62,600!pic.twitter.com/6gBiTTkPiH
https://twitter.com/ali_charts/status/1808341827579179328
解説
- TherecentpricedropinBitcoinhighlightstheongoingvolatilityandsusceptibilitytoexternalpressures,suchaslarge-scalesell-offsandmarketsentiment.
- Mt.Gox’srepaymentprocessisasignificantfactorcontributingtomarketinstability,potentiallyincreasingthesupplyofBitcoinandaddingdownwardpressureonprices.
- TheFear&GreedIndexataneutralpositionsuggeststhatwhileinvestorsarecautious,thereisstillpotentialformarketrecoverywithpositivenewsorregulatorychanges.
- Analystsremaincautiouslyoptimistic,butwarnofpotentiallarge-scaleliquidationsifBitcoin’spricereboundssharply.