Cryptocurrency News
June gloom takes on a new meaning in another 2022 down month
2022.07.02 03:15
June gloom takes on a new meaning in another 2022 down month
The market cap of Bitcoin (BTC) dropped another 33% in June, which is now beginning to numb the Twitter (NYSE:TWTR) community. On the upside, many crypto traders who wanted out did so fairly aggressively from March to May. But, the less optimistic news is that the stagnancy in address activity may need to change for prices to get a running start on recovery.
Unlike April and May, the altcoin pack didn’t struggle tremendously more than Bitcoin. BTC’s 33% drop was pretty middle of the road in terms of corrections. In a vacuum, crypto bulls would prefer seeing altcoins continuing to lag, pushing more traders back toward Bitcoin as a relative “safe haven.”
