On July 5, 2024, it is another profound imprint on the world of encryption, and the encryption market has once again experienced a big dump. BTC has dropped by 8% to a maximum of 53300 gold, while the more long AltCoin has even fallen below the low point of the Bear Market in 2022. BTC continues to break through the support position, and AltCoin has suffered panic selling. According to on-chain monitoring data, the global Crypto Market Cap has now fallen below $21 trillion, with a change of -7.81% in the past 24 hours.

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Actually, the short-term explosion of Mt. Gox is Unfavourable Information, but in the long run, it is not a bad thing. The first big dump of AltCoin comes from the big dump of Mainstream Tokens such as BTC. The fundamental reason is the crazy harvesting of unlocked AltCoins in 2024, as well as the frenzy of new coin listings aiming to suck money from people. The direct cause of this decline may be the heavy selling pressure facing BTC, while the fundamental reason is the unclear interest rate cuts at the macroeconomic level. When will the market turn around - follow the live room for details!