Rekt

<p>The post <a href="https://coinpedia.org/news/crypto-market-analysis-is-the-bear-market-nearing-its-end/">Crypto Market Analysis: Is the Bear Market Nearing Its End?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto market is currently experiencing significant turmoil, leaving many wondering if the end is near. According to Rekt Fencer, the <a href="https://www.xdao.app/" target="_blank" rel="noreferrer noopener nofollow">founder of X Dao</a>, the crypto community is in a stage of depression, similar to the market’s state back in June 2023.&nbsp;</p> 
<p>However, a closer look at the data reveals potential signs of recovery on the horizon, despite the prevailing sentiment of despair.</p> 
<h2 class="wp-block-heading" id="h-altcoin-prices-drop">Altcoin Prices Drop</h2> 
<p>In the past few months, the prices of many altcoins have fallen sharply, by 30% to 70%. This big drop has made many investors and analysts depressed. Yet, despite this bleak outlook, certain trends indicate that the market may soon recover.&nbsp;</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The crypto market is in freefall.<br><br>Is it game over?<br><br>Not so fast.<br><br>I've dug into the data and found something big.<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;">: When and why the market will turn around <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/xEgYEzMVbn">pic.twitter.com/xEgYEzMVbn</a></p>— Rekt Fencer (@rektfencer) <a href="https://twitter.com/rektfencer/status/1811483360428277777?ref_src=twsrc%5Etfw">July 11, 2024</a>
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<p>Notably, the crypto market’s sentiment mirrors that of June 19, 2023, when major cryptocurrencies were also at low points.</p> 
<p>On June 19, 2023, the total market capitalization was $1.063 billion, with Bitcoin at $26,500, Ethereum at $1,700, and Solana at $15.4. These prices were similar to the current depressed levels. However, as Titan of Crypto notes, this could be a major bear trap.</p> 
<h2 class="wp-block-heading" id="h-factors-behind-the-drop">Factors Behind the Drop</h2> 
<p>Several factors have caused the recent market drop. These include <a href="https://coinpedia.org/news/german-governments-bitcoin-holdings-drop-by-90-arkham-intelligence-reports/" target="_blank" rel="noreferrer noopener">Germany selling its Bitcoin</a>, the release of Bitcoin from the Mt. Gox settlement, and Bitcoin miners selling their holdings to stay profitable. Despite these issues, major investors are holding onto their Bitcoin, showing strong long-term confidence in the cryptocurrency</p> 
<p>Bitcoin’s dominance, which shows its market share compared to other cryptocurrencies, has shown <a href="https://coinpedia.org/news/is-altcoin-season-finally-here-as-bitcoin-dominance-breaks-the-bearish-wedge-pattern/" target="_blank" rel="noreferrer noopener">signs of a possible bullish trend</a>. Although the $58,000 support level was lost, the $50,000 level may provide a cushion. Market sentiment usually rebounds when Bitcoin is seen as too expensive, suggesting that a turnaround could be near.</p> 
<h2 class="wp-block-heading" id="h-signs-of-a-market-recovery">Signs of a Market Recovery</h2> 
<p>Several upcoming events and factors could trigger a market recovery. Miner capitulation could signal a trend reversal as miners stop selling their holdings. Also, the potential <a href="https://coinpedia.org/news/bitcoin-bottom-and-upcoming-ethereum-etf-to-boost-altcoins/" target="_blank" rel="noreferrer noopener">approval of an Ethereum ETF</a> could bring new interest and investment to the market. Changes in stablecoin liquidity, especially USDT, are also important indicators of market demand.</p> 
<p>Looking ahead, global liquidity is expected to change in Q4 2024 and early 2025, which could positively impact the crypto market. Comparing this to the summer of 2020, when altcoins surged after a dip, suggests we might be on the <a href="https://coinpedia.org/price-analysis/is-this-the-next-big-altcoin-during-the-upcoming-bull-rally/" target="_blank" rel="noreferrer noopener">brink of a similar bull run</a>.</p> 
<p>Meanwhile, by focusing on long-term trends and upcoming events, investors can better handle the current volatility and prepare for possible gains.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/strategies-to-identify-altcoins-capable-of-yielding-1-million-in-returns/" target="_blank" rel="noreferrer noopener">Strategies to Identify Altcoins Capable of Yielding $1 Million in Returns</a></p>

Crypto Market Analysis: Is the Bear Market Nearing Its End?

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