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At the start of the trading week, strength around Bitcoin remains one of the most relevant factors for the market. Over the last seven trading sessions, the cryptocurrency has gained more than 23%, allowing it to approach a price zone not seen in several months near $80,000.
As the last week of July comes to an end, the cryptocurrency market is once again showing weaker short-term appetite. Over the last few sessions, demand has shown signs of caution, in a week marked by central bank decisions that failed to strengthen appetite for risk assets.
As we move into mid-July, the lack of demand around the cryptocurrency market is once again standing out across financial markets. This is partly because the market failed to maintain consistent strength after the inflation data released at the beginning of the trading week.
The second week of July continues, and one of the most relevant events for the cryptocurrency market is the renewed loss of strength in short-term demand.
During the latest trading session, Bitcoin started to show a gain of more than 2.6%, moving slightly back above the key 60k area. However, this advance also highlights the neutral phase that continues to surround the cryptocurrency, as the weakness seen in previous weeks remains relevant.
With only a few days left in June, one of the factors still weighing on the cryptocurrency market is the steady outflow of capital and the decline in demand activity. This dynamic has started to put more pressure on the crypto market, as investors continue to show a high perception of risk and appear to be moving toward more stable assets, such as the US dollar, in the short term.
The cryptocurrency market continues to show a lack of strength and confidence in the final moves of the week. One of the most relevant events behind this caution has been the US central bank decision, which so far has not created an ideal environment for market liquidity to remain stable.
During the second week of June, one of the main developments in the cryptocurrency market has been the recovery attempt seen across major crypto assets. However, rather than confirming a clear improvement in confidence, this move still reflects a phase of indecision around market demand.
