The crypto market is experiencing a significant downturn, losing over 5% in value in the past day. Meanwhile, Eric Trump is once again urging investors to 'buy the dips'. Analysts are discussing what may follow based on current trends.
Reasons for Market Decline
The crypto market has fallen over 5% in the past 24 hours, with an overall market cap of $3.7 trillion. Bitcoin remains at $113,000, while altcoins like Ethereum, XRP, and Solana have dropped up to 3%.
Analysts' Views on Recovery
Analyst Michaël van de Poppe sees the current dip as an opportunity to accumulate. He notes that August may be a month of consolidation before Bitcoin and altcoins begin to recover.
> "We are starting to correct, which means it's time to accumulate your next positions for the next run..." > — Michaël van de Poppe (@CryptoMichNL) August 1, 2025.
Bitcoin Selling Amid Uncertainty
According to Glassnode data, over 90% of Bitcoin supply has been profitable for more than a month. This also indicates a high risk of profit-taking. More than 85% of Bitcoin spent volume yesterday was from short-term holders, suggesting that the current wave of selling is primarily driven by recent buyers.
> "Over the past 24 hours, the vast majority of Bitcoin spent volume came from Short-Term Holders..." > — glassnode (@glassnode) August 1, 2025.
Despite current challenges, analysts believe August may lead to a recovery by October. Insights from various experts and historical trends suggest that a potential recovery may not be far off.
