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

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)