The market view on July 10 is as follows: After the recent strong block sell-off by the German government, Bitcoin has successfully proved its resilience and liquidity again, and the price rebounded after hitting the bottom of $54,000 for the second time.
At present, the German government has only 22,847 bitcoins (worth $1.32 billion) left, which are expected to be sold before the end of this week.
The market has responded appropriately to this negative news and can be ignored for the time being.
Today, YH of Citibank said that the Federal Reserve is expected to start cutting interest rates by 200 basis points in September.
In addition, Bitcoin's ETF has seen an inflow of up to $295 million today, the highest level in nearly a month.
These two pieces of news can be said to be a booster for the current sluggish market, and the resilience shown by the cryptocurrency market in the past few days and the slight recovery of Bitcoin and Ethereum rates make us look forward to the future market recovery.
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