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<a href="https://bitcoinworld.co.in/buy-the-dip-mentions-on-social-platforms-surge-as-bitcoin-stumbles/" title="‘Buy The Dip’ Mentions On Social Platforms Surge As Bitcoin Stumbles" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Mentions of “buy the dip” on Reddit, X, 4chan, and BitcoinTalk doubled over the last two days as Bitcoin fell to lows unseen for months.</li> 
</ul> 
Mentions of “buy the dip” on social platforms Reddit, X, 4chan and Bitcoin Talk briefly doubled over the last two days as Bitcoin fell below $60,000 for the second time in four months. 
Crypto research firm Santiment tracked the total mentions of the phrase across the four platforms as crypto traders debated what stage of the bull market Bitcoin (BTC) is currently in. 
<figure id="attachment_76105" aria-describedby="caption-attachment-76105" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-76105" src="http://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-415x300.jpg" alt="" width="557" height="403" srcset="https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-415x300.jpg 415w, https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-692x500.jpg 692w, https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-830x600.jpg 830w, https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-768x555.jpg 768w, https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-1536x1110.jpg 1536w, https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-2048x1481.jpg 2048w, https://bitcoinworld.co.in/wp-content/uploads/Frequency-of-Buy-the-Dip-across-four-social-platforms-160x117.jpg 160w" sizes="(max-width: 557px) 100vw, 557px">
 <figcaption id="caption-attachment-76105" class="wp-caption-text">
 Frequency of “Buy the Dip” across four social platforms
 </figcaption>
</figure> 
&nbsp; 
“The crowd is showing signs of seeing this as a buy the dip opportunity,” said Santiment in a post on X, adding: 
“Ideally, we wait for their enthusiasm to settle down. The time to buy is when they are impatient and skeptical.” 
Bitcoin is trading at $58,900 at the time of writing, down 4.2% over the last 24 hours, its lowest level since May 3, Coinstats data <a href="https://coinstats.app/coins/bitcoin/">shows</a>. 
<figure id="attachment_76102" aria-describedby="caption-attachment-76102" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-76102" src="http://bitcoinworld.co.in/wp-content/uploads/Bitcoin-Price-Chart-18-483x300.png" alt="" width="679" height="422" srcset="https://bitcoinworld.co.in/wp-content/uploads/Bitcoin-Price-Chart-18-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Bitcoin-Price-Chart-18.png 760w" sizes="(max-width: 679px) 100vw, 679px">
 <figcaption id="caption-attachment-76102" class="wp-caption-text">
 Bitcoin Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
<h3 id="span-style-font-weight-400-mt-gox-is-still-to-blame-span">Mt. Gox Is Still To Blame</h3> 
Tom Lee, founder of financial research firm Fundstrat, told CNBC on July 1 that much of the recent negative sentiment is largely coming from Mt. Gox, who is preparing to offload $9 billion worth of Bitcoin to its creditors later in July. 
Some are worried that Bitcoin could slump if a significant portion of Mt. Gox’s 127,000 creditors sell their recovered Bitcoin.&nbsp; 
Lee isn’t sure when the bottom will be in but stood by his prediction that Bitcoin can hit $150,000 before the end of 2024. 
“[Mt. Gox] was a huge overhang for many years [but knowing] that is going to disappear in July, I think it’s a reason to expect a pretty sharp rebound in the second half.” 
Another source of negative sentiment may have come from the spot Bitcoin exchange-traded funds, which have only seen inflows in six of the last 18 trading days, Farside Investors data <a href="https://farside.co.uk/?p=1321">shows</a>. 
<h3 id="span-style-font-weight-400-not-everyone-s-confident-the-bottom-is-in-span">Not Everyone’s Confident The Bottom Is In</h3> 
Kudret Ayyldr, research manager at GCM Investment, <a href="https://x.com/KudretAyyldr/status/1808459521045475604">suggested</a> that alarm bells may be ringing now that Bitcoin has failed to hold above $67,500 since April. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Mayıs ve Haziranda $67,5K üzerinde kalıcı bir hareket oluşturamıyor ki iyi değil. Bu olumsuzluk $48- 50K dip bölgesine kadar düzeltmeyi konuşturabilir. Kısa vadeli olarak $58,75K kırılması ise bu düşünceyi güçlendirebilir. Aksi takdirde $58K -68 sıkışması izlenebilir. <a href="https://t.co/eEWLoOBtKY">https://t.co/eEWLoOBtKY</a> <a href="https://t.co/lpIdRGXKWJ">pic.twitter.com/lpIdRGXKWJ</a> 
 — Kudret Ayyıldır <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1f9-1f1f7.png" alt="🇹🇷" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@KudretAyyldr) <a href="https://twitter.com/KudretAyyldr/status/1808459521045475604?ref_src=twsrc%5Etfw">July 3, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
“This negativity may prompt a correction to the $48-50K bottom area,” Ayyldr estimated in a July 3 X post to his 19,300 followers. 
The Crypto Fear and Greed Index, which measures market sentiment for Bitcoin and the broader cryptocurrency industry, is currently in the “Fear” zone with a score of 44 out of 100. 
It fell to an 18-month low of 31 on June 25 and has been hovering between 30 and 53 ever since. 
<figure id="attachment_76107" aria-describedby="caption-attachment-76107" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-76107" src="http://bitcoinworld.co.in/wp-content/uploads/Crypto-Fear-and-Greed-Index-score-680x300.webp" alt="" width="746" height="329" srcset="https://bitcoinworld.co.in/wp-content/uploads/Crypto-Fear-and-Greed-Index-score-680x300.webp 680w, https://bitcoinworld.co.in/wp-content/uploads/Crypto-Fear-and-Greed-Index-score-1080x477.webp 1080w, https://bitcoinworld.co.in/wp-content/uploads/Crypto-Fear-and-Greed-Index-score-768x339.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/Crypto-Fear-and-Greed-Index-score.webp 1162w" sizes="(max-width: 746px) 100vw, 746px">
 <figcaption id="caption-attachment-76107" class="wp-caption-text">
 Crypto Fear and Greed Index score
 </figcaption>
</figure>

‘Buy The Dip’ Mentions On Social Platforms Surge As Bitcoin Stumbles

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