On June 25th, crypto research firm 10X Research issued a document saying that Bitcoin is currently seriously oversold; after some counterfeit products experienced fluctuations, KOLs advised fans to buy on dips, and the Greed and Fear Index is near the lowest level, usually associated with price lows. There are many reasons for the Bitcoin sell-off: Mt. Gox's Bitcoin distribution (estimated value of $9 billion, starting in July), the German government's sale of confiscated Bitcoin ($3 billion), Bitcoin miners selling for $20- $3 billion, ETFs selling for $1.40 billion, Bitcoin OG wallets selling for $1.20 billion, etc. Assume a total of $160- $18 billion - similar to the amount of Bitcoin ETF inflows so far this year. Previously, internal trading signals provided multiple signals to sell bitcoin. While many have claimed that the recent decline was due to Mt. Gox's fud (among other factors mentioned above), a structural factor could lead to a deeper decline before a possible rebound from lower levels.