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

Odaily News 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 X on July 2, adding that negative sentiment and trader losses mean “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,” with the latest surge in June suggesting that “massive selling pressure on exchanges is waning.” (Cointelegraph)