The post Will Crypto Market Rebound in July? appeared on BitcoinEthereumNews.com.

As July unfolds, all eyes are on the cryptocurrency market, which has recently faced significant price drops and volatility. Investors and enthusiasts are wondering if this month will bring a much-anticipated rebound. Key factors such as market sentiment, economic indicators, and recent trends will play crucial roles in determining whether the crypto market can recover and gain momentum in the weeks ahead. How has the Crypto Market Moved Recently? The total cryptocurrency market cap stands at $2.17 trillion, reflecting a 4.63% decline over the past 24 hours. Despite this drop, the 24-hour trading volume across the cryptocurrency market has surged by 23.36%, reaching $200.24 billion. Bitcoin’s current price is $58,314, having experienced a 4.15% loss in the last 24 hours. Interestingly, Bitcoin’s market dominance has increased by 0.26% over the same period, now comprising 53.05% of the total market. The significant increase in trading volume amidst a market cap decline suggests heightened trading activity, possibly due to investors reacting to market volatility or repositioning their portfolios. Bitcoin’s increased dominance indicates that despite its recent price drop, it remains a preferred asset compared to other cryptocurrencies, as investors might be seeking the relative stability it offers within the crypto market. This shift in dominance, coupled with increased trading volumes, could signal potential market consolidation or a reallocation of investments towards Bitcoin during periods of uncertainty. Will Crypto Market Rebound in July? In June, the U.S. Federal Reserve noted that inflation, although easing, still exceeds the 2% target range, according to minutes released on Wednesday. The U.S. economy continues to grow at a steady rate, though the anticipated GDP growth for this year is expected to be slower compared to the strong growth seen in 2023. A decrease in inflation would be beneficial for risk assets like Bitcoin, as it might prompt…

---

Filed under: News - @ July 4, 2024 10:26 am