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Fallout from crypto contagion subsides but no market reversal just yet

Published 08/12/2022, 12:14 PM
Updated 08/14/2022, 02:40 PM
Fallout from crypto contagion subsides but no market reversal just yet

The blockchain industry showed some surprising resilience in July, which may point to a period of greater fundamental support for the crypto space overall in the short term. In looking at a wide variety of indicators, including Bitcoin’s (BTC) price action, open interest on Ether (ETH) and activity in GameFi, there are some strong signals to suggest that a bullish sentiment is returning to this space.

Smooth sailing from now on is not a given, though. Cointelegraph Research’s latest Investor Insights analyzes key indicators from different sectors of the blockchain industry to navigate those potentially treacherous crypto waters. In the latest edition, Cointelegraph Research’s bearish-to-bullish index was a level C indicating a short-term cautionary time. While there are still mixed signals, the overall sentiment was leaning toward the bulls for July.

Continue Reading on Coin Telegraph

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