eToro analyst: BTC's trend will deteriorate further in the next few days, and a "rising catalyst" event is needed for a market reversal

BlockBeats news, on July 5, eToro market analyst Josh Gilbert said in an interview with Cointelegraph that most of the sell-off can be attributed to concerns about repayments by Mt. Gox creditors, and that about $8 billion worth of BTC will flow into the market starting this month. Bitcoin's price trend is expected to deteriorate further in the coming days. There are far more negative news than positive news at the moment, and the selling activity is clearly making investors uneasy, which tends to trigger more selling. Prices will be weak in the short term until the market receives a catalyst to push prices higher, which could come in the form of investors "buying on dips" or the ETH ETF being approved to improve market sentiment.