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June crypto market review: bearish sentiment and fear zone

EXMO launches monthly crypto market reviews, analytical reports with up-to-date information about cryptocurrencies.

Crypto market June

The first analytical snapshot presents June in review: capitalisation, all-time highs, market driving factors, gainers and losers of the month and much more.

After the bitcoin rate collapsed to $30,000 in May 2021, the crypto market remained in the “Fear” and “Extreme fear” zones for almost the entire June. The most optimistic market sentiment was observed in mid-June, simultaneously with a significant drawdown in capitalisation and a decrease in trading volume by 56%. During the entire period, the activity of traders was significantly lower than that of the previous month.

At the end of the month, the crypto market capitalisation sank by almost 6%. Unable to get back to levels above $2 trillion, it fluctuated between $1.2 trillion and $1.7 trillion. The largest decrease was seen during the last decade of June caused by the tightening of mining regulation in China.

Monthly outcomes

Despite the overall trading volume decrease caused by bear sentiment, EXMO Coin volume increased against the background of its price growth – almost two times compared to May.

Tether (USDT), Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Dogecoin (DOGE), EXMO Coin (EXM), Vitae (VITAE), Dash (DASH), Litecoin (LTC) and Cardano (ADA) hit TOP 10 cryptocurrencies in terms of trading volumes on EXMO.

Despite constant swings during the entire month, BTC price fell only by 6%, and its positive return was estimated at 21% by the end of the month.

El Salvador’s adoption of BTC as legal tender is the most stirring event of the month.

BTC predictions

In June, the prices of most cryptocurrencies faced the decline. The largest losses were incurred by the Vitae token with a drop of 77%. Only four cryptocurrencies from the EXMO listing – EXM, CRON, WAVES and LSK – showed growth. EXMO Coin showed the most significant growth of 127%.

That’s it, this is a short summary of the key monthly outcomes.

Read full review

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