End-of-July Bitcoin Dip Explained: What Triggered It? (CryptoQuant)
Main Idea
The article discusses the recent dip in Bitcoin's price after reaching a new all-time high, attributing it to natural market cooling and profit-taking, with insights from CryptoQuant and other analysts.
Key Points
1. Bitcoin reached a new all-time high of over $123,000 but later dipped by 7-8%, falling to a multi-week low of $112,000 due to profit-taking.
2. Galaxy Digital sold 80,000 BTC for a client, valued at around $9 billion, contributing to the market movement.
3. Bitcoin ETFs saw strong inflows but experienced over $920 million in outflows on July 31st and August 1st, according to SoSoValue data.
4. Analysts like Michaël van de Poppe noted Bitcoin's resilience but cautioned that it may not be entirely out of the woods yet, with potential retesting of lower price levels.
5. Robert Kiyosaki, a BTC advocate, remains bullish and suggests buying the dip if it occurs.
Description
The hottest month of the year also saw some of the hottest climbs for the largest digital asset, which reached unseen territories driven by global demand. The market is naturally cooling after a month of events, and speculation about the next direction is high. Here’s CryptoQuant’s take on why BTC dipped at the end of July. Potential Triggers The month of July, which marked the second half of the year, saw a spectacular BTC run that drove the asset to a new all-time high of just over $123,000. A...
Latest News
- End-of-July Bitcoin Dip Explained: What Triggered It? (CryptoQuant)2025-08-05 19:10:36
- BNB Defies Selloffs, Stays Within 30% of All-Time High2025-08-05 18:12:02
- Altseason on Hold? Altcoins Decline as Bitcoin Falls Below Local Support (Bitfinex)2025-08-05 17:38:33
- Litecoin (LTC) Soars by 40% Monthly: Is There More Room for Growth?2025-08-05 17:01:11
- Ripple (XRP) News Today August 5th2025-08-05 16:03:03