Despite a recent price downturn where Bitcoin (BTC) dipped almost 2% to trade near the $105,000 mark, the overall sentiment in the crypto market has remained resilient. The sentiment-tracking Crypto Fear & Greed Index registered a 'Greed' score of 63 out of 100 on Wednesday, a minor slip of one point from the previous day, indicating continued optimism among investors. Bitcoin's price pullback to $105,560 followed an attempt to breach $108,000, with analysts keenly observing when the cryptocurrency might retest its all-time high of $111,970, achieved on May 22.

The current period marks the beginning of the third quarter, which historically has been a weaker phase for both Bitcoin and Ethereum. According to crypto trader Daan Crypto Trades, this quarter is generally the slowest due to 'slower summer months where there’s generally less action, volumes [and] liquidity.' Historical data from CoinGlass reveals that since 2013, Bitcoin has averaged a 5.47% gain during the third quarter each year. If this trend persists, Bitcoin's price could reach around $111,000 by September 30, placing it just shy of its previous all-time high.

In contrast to the typically slower third quarter, Bitcoin's performance in the second quarter, which concluded on June 30, closely mirrored its historical average. BTC posted a substantial 31% gain, reaching $108,383, which was approximately 4% above its 27% average Q2 return since 2014. Furthermore, Bitcoin concluded the month of June with its highest monthly candle, signifying a strong close to the quarter.

Various market indicators continue to underscore Bitcoin's dominant position. Bitcoin dominance currently stands around 65.5%, marking an increase of nearly 13% year-to-date. Concurrently, CoinMarketCap’s Altcoin Season Index, which assesses the performance of the top 100 altcoins relative to Bitcoin over the past 90 days, indicates a 'Bitcoin Season' with a score of 20 out of 100. However, there are some nuanced signals; CryptoQuant's head of research, Julio Moreno, noted a decline in their Bitcoin Bull Score Metric to a 'NEUTRAL' level of 50, emphasizing that a score of 60 or above is typically required for prices to sustain a rally.

Despite the mixed signals from certain metrics and the inherent historical sluggishness of the third quarter, the overarching sentiment in the crypto market appears robust. Bitcoin has shown remarkable resilience, with related news highlighting its ability to 'hold steady' amid various market dynamics and the alignment of 'major catalysts' that could potentially drive a breakout above the $110,000 mark. The consistent inflows into Bitcoin ETFs and a 'bullish monthly structure' further suggest a potential continuation of its rally and a market sentiment shifting towards growth, maintaining optimism for its future trajectory.