trading volume Cryptocurrency Fall as interest rates fall after bitcoin

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1:39:59 PM - Tue, Jul 13th 2021

Cryptocurrencies are in a slump in the summer as they go through a two-month correction period after a lot of negative stories.
Trading volumes on the largest exchanges, including Coinbase, Kraken,

Binance, and Bitstamp, dropped more than 40% in June. slotxo According to crypto market data provider CryptoCompare. which cited lower prices and lower volatility as the cause of the decline.

In June, the price of bitcoin hit a monthly low of $28,908, according to reports. And ended the month down 6%. Daily volume peaked at $138.2 billion on June 22, down 42.3 percent from its May high.

The report lists China as the main catalyst, according to a Reuters report that was reported early on Monday. China's latest efforts in recent years to crack down on the industry have had a greater impact than ever before. However, investors and experts in the cryptocurrency ecosystem still see a long-term positive outlook for bitcoin. and other cryptocurrencies

“China's crackdown has caused great fear. which is emerging in the market,” said Teddy Valle, Chief Investment Officer at Pervalle Global. So now it's up to the ropes compared to fighting in the middle of the ring.

Usually when you have a big sell. The participants would be quite scared and get their chips back.Vallee added that he still does not see much backflow from the exchange. The funding rate remains negative. The number of new wallets has decreased.

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