Analysis: Crypto market may usher in a "relief rebound"

Crypto markets could see a “relief rally” after a volatile June, with some analysts saying selling pressure on exchanges has eased. “Looking at the outlook for July, there are major reasons to remain bullish after a large number of small traders capitulated,” Santiment said in a post on July 2. It added that negative market sentiment and trader losses mean that “a relief rally may have just begun.” Analyst and CryptoQuant certified author Minkyu Woo has similar bullish reasons, noting in a July 1 article that sellers are “finally exhausted.” He found that the average size of USDT outflows from exchanges since January last year “has decreased after a strong surge,” and the latest surge in June suggests that “large-scale selling pressure on exchanges is waning.” (Cointelegraph)