The network reported that Bitcoin fell below $54,000 on July 5, and the fear and greed index fell to 29, the lowest point since the beginning of 2023.。Market selling pressure comes from the German and U.S. governments selling seized bitcoins as well as Mt..Gox starts refunding。SynFutures' Rachel Lin points out that selling pressure is difficult to ease in the short term, expecting Mt..Gox users will sell off massively。Markus Thielen of 10x Research lowered his bitcoin price target to $50,000, arguing that August and September are challenging months for bitcoin, but that bitcoin could rebound if the Fed cuts rates in September.。