Global cryptocurrency market recovery and volatility cycle
The developments in this story so far, most recent first.
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· date approximate Development
Cryptocurrency market value rises by over $120 billion in July
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· date approximate Background
Sharp sell-offs in the crypto market during June.
In June, the cryptocurrency market experienced sharp sell-offs. According to Blockchain and Crypto Asset Strategist Mete Ali Başkaya, part of the subsequent market rise in July functioned as a reaction buy following these oversold conditions.
The recovery period was described not as the start of a lasting bull market, but as a controlled recovery and a rebalancing of positions after the June sell-offs.