$BTC
**🪙 Major Cryptos (24h Change)**
1. **Bitcoin (BTC)**: **$56,200** (-3.1%)
- *Testing critical support* at **$55,500** (May 2024 low).
2. **Ethereum (ETH)**: **$2,950** (-4.2%)
- Weakness persists ahead of **spot ETF launch** (expected late July).
3. **Top Movers**:
- **Solana (SOL)**: $135 (+5.8%) 👑
- **Dogecoin (DOGE)**: $0.105 (-7.3%)
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### **📉 Market Sentiment**
- **Fear & Greed Index**: **28/100 (Extreme Fear)** 😨
- **Total Market Cap**: **$2.07T** (-3.8% in 24h).
- **BTC Dominance**: **54.2%** (stable).
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### **🔥 Key Catalysts Driving the Dip**
1. **Mt. Gox Repayments**:
- ~**$8B** in BTC repayments started (July 5), sparking selloff fears.
2. **German Govt. BTC Sales**:
- Confiscated BTC worth **~$195M** moved to exchanges (July 3-6).
3. **Fed Rate Uncertainty**:
- Strong US jobs data → reduced odds of 2024 rate cuts.
4. **Crypto ETF Outflows**:
- US spot Bitcoin ETFs saw **$1.2B outflows** last week.
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### **📊 Technical Outlook**
- **BTC**:
- *Support*: $55,500 → Breach could target **$52,000**.
- *Resistance*: $58,500 (200-day MA).
- **ETH**:
- *Support*: $2,800 (must hold to avoid deeper drop).
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### **🚨 What to Watch**
- **US CPI Inflation Data (July 10)**: Will sway Fed rate expectations.
- **ETH Spot ETF Launch**: Approvals expected by **July 23**.
- **German BTC Movements**: Further sales could extend pressure.
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### **💎 Altcoin Spotlight**
- **Solana (SOL)**: Outperforming on **ETF speculation** (VanEck filed for SOL ETF).
- **Toncoin (TON)**: +12% weekly (Telegram ecosystem growth).
- **AI Coins (RNDR, FET)**: Recovering amid Nvidia rally.
