Analysis: The encryption market may usher in a "relief rebound"

robot
Abstract generation in progress

Odaily Planet Daily News The encryption market may see a "relief rebound" after experiencing a volatile market in June, with some analysts stating that the selling pressure on exchanges has weakened. On July 2, Santiment posted on X, "Looking at the prospects for July, there is a major reason to remain bullish after a large number of small traders capitulated." It added that negative market sentiment and trader losses mean "a relief rebound may just be beginning." Analyst and CryptoQuant certified author Minkyu Woo also has similar bullish reasons. In an article on July 1st, he pointed out that the sellers are "finally exhausted". He found that since January last year, the average outflow of USDT from exchanges "has decreased after experiencing a strong surge", and the latest surge in June indicates that "the massive selling pressure from exchanges is weakening". (Cointelegraph)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Share
Comment
0/400
vip
· 2024-07-02 07:20
#GateioInto11# #QuizToEarn# #ContentStar#
Join Gate Learn w me, complete daily quizzes, and share 10000U!

Answer: C C C

https://www.gate.io/activities/quiz-challenge-learn?invite_uid=8792018&nk_name=Tomogaso&ch=LearnQuiz_20240619
Reply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)