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

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ODAILY
07-02
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Odaily Odaily News The crypto market may usher in a "relief rebound" after experiencing volatility in June, and some analysts say that the selling pressure on exchanges has weakened. On July 2, Santiment wrote on X: "From the perspective of July, there are major reasons to remain bullish after a large number of small traders surrendered." It added that negative market sentiment and trader losses mean that "a relief rebound may have just begun." Analyst and CryptoQuant certified author Minkyu Woo has similar bullish reasons. He pointed out in an article on July 1 that sellers "are finally exhausted." He found that since January last year, the average size of USDT outflows from exchanges "has decreased after a strong surge," and the latest surge in June indicates that "large-scale selling pressure on exchanges is weakening." (Cointelegraph)

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