A report released by Coinbase Reports shows that technical factors, such as the sale of Bitcoin by the US and German governments and outflows from US spot BTC ETFs, have dominated recent price movements, especially after Mt. Gox announced that it would begin repaying up to 142,000 BTC in the first week of July. The report believes that seasonal positives and improved liquidity in July may support the market. Because historically, both Bitcoin and Ethereum seem to perform better in this month than in other months, especially after the sell-off in June. In fact, the current market structure looks favorable because a large number of excess positions have been cleared after the Mt. Gox announcement. In addition, the average daily trading volume of BTC and ETH (spot and futures) on global exchanges fell from $90 billion to $75 billion between May and June, a decrease of 16.7%. Liquidity may improve next month$BTC

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