Santiment Monthly Report: June Gloom Takes on a New Meaning in Another 2022 Crypto Down Month
Bitcoin’s market cap dropped another 33% in June. These retracements on top of previous retracements are beginning to give the Twitter community a bit of a numb feeling. On the upside, many of the traders who planned to get out of crypto did so fairly aggressively in March, April, and May. But the less optimistic news is that the stagnancy in address activity may need to change in order for prices to get a running start on recovery.
Unlike April and May, the altcoin pack didn’t really struggle tremendously more than Bitcoin. In fact, BTC’s -33% drop was pretty middle of the road in terms of corrections, as illustrated by the above price percentage change chart. In a vacuum, crypto bulls would prefer seeing altcoins continuing to lag behind, which would then push more traders back toward Bitcoin as a
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