Nazia Saeed
Crypto market sentiment remains upbeat even as Bitcoin dropped nearly 2%, falling to $105,560 on Wednesday following a brief attempt to reclaim the $108,000 level. The decline comes as the third quarter kicks off historically a slower period for digital assets yet investor optimism appears intact.
The Crypto Fear & Greed Index, a popular gauge of market mood, recorded a “Greed” score of 63 out of 100, just one point down from Tuesday. According to CoinMarketCap data, Bitcoin lost 1.79% over the last 24 hours, signaling a minor pullback rather than a significant correction.
Bitcoin is trading at $106,53 at the time of publication. Source: CoinMarketCap
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Sentiment resilient amid Q3 slowdown concerns
The latest dip has not shaken bullish outlooks. Some traders continue to monitor whether Bitcoin will retest its all-time high of $111,970, reached on May 22. On Monday, the price hovered close to $109,000, fueling optimism before retreating into a short-term downtrend.
Market watchers note that the third quarter, which began July 1, tends to be Bitcoin’s least aggressive season historically. Crypto trader Daan Crypto Trades pointed out, From the historical data, this quarter is generally the slowest out of all, for both $BTC and $ETH.
Data from CoinGlass supports this. Since 2013, Bitcoin has averaged a 5.47% gain during Q3, which if replicated would put BTC near $111,000 by September 30, just under its previous peak. Daan attributes this seasonal lag to slower summer months where there’s generally less action, volumes [and] liquidity.
Strong Q2 close, but uncertainty lingers
Bitcoin’s Q2 performance aligned closely with historical averages. The cryptocurrency logged a 31% quarterly gain, ending June at $108,383, slightly above its 10-year average Q2 return of 27%. June also closed with Bitcoin’s highest-ever monthly candle, signaling technical strength despite cooling sentiment.
Bitcoin dominance remains elevated at 65.5%, having risen nearly 13% in 2025. Altcoins continue to lag behind. The Altcoin Season Index by CoinMarketCap registers a score of 20 out of 100, classifying current conditions as a “Bitcoin Season.”
Still, some analysts are cautious. CryptoQuant’s Bitcoin Bull Score, a proprietary sentiment metric, has slipped into neutral territory. Head of research Julio Moreno noted Wednesday, “Bitcoin Bull Score is in NEUTRAL territory now 50. Needs to be 60 or above for prices to sustain a rally.”
