<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-relief-rally-in-crypto-markets-after-june-surge/" data-wpel-link="internal">Analysts Predict Relief Rally in Crypto Markets After June Surge</a><br></p>
<p class="p1" style="text-align: justify">Crypto markets might be ready for a relief rally after the surge in June; some analysts suggest the selling pressure on exchanges has decreased. Blockchain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data analysis</a> platform <strong>Santiment</strong> team stated on July 2 on X that there are significant reasons to be optimistic after so much selling pressure when looking at the outlook for July.</p> 
<h2 class="p1" style="text-align: justify" id="is-the-selling-pressure-over">Is the Selling Pressure Over?</h2> 
<p class="p1" style="text-align: justify">During this period, negative market sentiment and investor losses could mean a relief rally is just beginning. According to Tradingview data, Bitcoin fell nearly 7% in June, dropping to $59,500 within the month, and with the $60,000 level acting as support, it was trading at $62,833 at the time of writing.</p> 
<p class="p1" style="text-align: justify"><strong>TradingView</strong> data shows that the total value of the <a href="https://en.coin-turk.com/changpeng-zhaos-succession-at-binance-new-era-and-regulatory-challenges/" data-wpel-link="internal">crypto market</a> decreased by approximately $400 billion between its peak of $2.5 trillion and last month’s lowest level, with many other cryptocurrencies following suit. Analyst and CryptoQuant-approved author Minkyu Woo had a similar reason for optimism, stating in a July 1 post that sellers had finally exhausted.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-367108 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/crypto.webp" alt="" width="1280" height="720"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
<p class="p1" style="text-align: justify">Since January of last year, the average size of the highest Tether outflows from exchanges showed a decrease in outflows following a strong rise, indicating that the recent increase in June showed a reduction in large-scale selling pressure on exchanges. Regarding the subject, <strong>Minkyu Woo</strong> shared the following statements:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“This decrease in outflows indicates that <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> tend to hold onto their assets rather than cashing out. This could mean that investor sentiment has become more positive following the Bitcoin halving event.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Bitcoin is currently trading around $62,950, down 0.4% in 24 hours. Some of the negative events for Bitcoin and the crypto market this month include the unlocking of $9 billion worth of Bitcoin by the long-bankrupt crypto exchange Mt. Gox, which could lead to selling pressure as creditors try to cash out their cryptos that have been locked up for a decade.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analysts-predict-relief-rally-in-crypto-markets-after-june-surge/" data-wpel-link="internal">Analysts Predict Relief Rally in Crypto Markets After June Surge</a></h5>

Analysts Predict Relief Rally in Crypto Markets After June Surge

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