The crypto market could bounce back this month after a rocky June, with stablecoin outflow from exchanges showing slowing selling pressure.
The crypto markets could be set for a “relief rally” after a market rollercoaster in June, with some analysts suggesting selling pressure on exchanges has tapered off. “Looking at July’s outlook, there is major reason to be optimistic after so much small trader capitulation,” crypto intelligence platform SantimentMany other cryptocurrencies followed, as the crypto market capitalization shaved off around $400 billion between its $2.
“This reduction in outflows suggests that investors are more inclined to hold their assets rather than withdrawing cash from the market.”and the crypto market this month include the $9 billion worth of BTC unlocked by long-bankrupt exchange Mt. Gox, which could lead to selling pressure as creditors seek to cash out their crypto that’s been locked up for a decade.
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