Analyst: ”Cryptocurrency market to rebound this month... Selling pressure eases”

It has been predicted that the cryptocurrency market will recover from the difficult period in June and may rebound this month. According to Cointelegraph on the 2nd (local time), some analysts
He assessed that selling pressure at the close had weakened and predicted that the cryptocurrency market could see a "relief rally."
Cryptocurrency information platform "Santiment"
On the same day, he posted on his Twitter account X (formerly Twitter), "Looking at the outlook for July, there is plenty of reason to be optimistic after the dumping of small traders," and "The negative sentiment in the market and the losses of traders are
"The loss means a relief rally may just be beginning," Cointelegraph Markets Pro reported. Bitcoin fell about 7% in June to 50,000.
According to TradingView, the total market capitalization of the virtual currency market has fallen by about 400% from a peak of $2.5 trillion in May.
0 billion (about 65 trillion yen). Woo Min-Gyu, an analyst at on-chain analysis platform CryptoQuant, posted on the 1st:
He expressed optimism for similar reasons, saying, "Sellers are finally tired." He also cited a chart showing the average size of the total coin amounts of the top 10 USDT transactions leaked from exchanges.
"Looking at the trends from 2023 to the present, the decline in outflows after the strong rally indicates that large-scale selling pressure on exchanges is declining," he posted.
It continued: "This decline in outflows suggests investors are more inclined to hold onto assets rather than withdraw cash from the market. This is in line with the Bitcoin half of the market."
"This could mean that investor sentiment has turned more positive since the drawdown."