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Red June, green July.
June -20%, worst in four years, falling to a 21-month low.
Retail investors are cutting losses, whales have gobbled up 270k bitcoins in two weeks.
Total contract positions across the entire market dropped from 270k to 44.5 billion USD, all the forced liquidations are done!!
ETF outflows for ten consecutive days, yesterday +221 million USD turned positive~!
In the past 13 years, 9 Julys closed green, with an average gain of +7.6%.
July during bear markets is even stronger: 2018 +21%, 2022 +16.8%.
Selling pressure comes from leverage, chips flow into wallets.
The market is born in despair!!!~
(Data: CoinGlass / CryptoQuant / SoSoValue · Not investment advice)
(They say calling for a rally gets more traffic easily, so I'll give it a try)