🚀CryptoQuant analysts suggest that the cryptocurrency market has bottomed out after the recent decline. The overall cryptocurrency market is down over 7% over the past week and over 3% over the month.

📉Altcoins that have lost more than 4% of their value over the past 30 days are especially affected. BTC lost about 3% over the same period, but its price seems to be stuck in a sideways trend.

🔧The main reason for the decline in total market capitalization to $2.4 trillion was the capitulation of miners. Following the Bitcoin halving, block rewards were cut by 50% and miner income fell by 55%.

💵Analysts note a low level of stablecoin issuance, which indicates a slowdown in capital inflows into cryptocurrencies.

📊Finally, funds such as BlackRock and Fidelity are seeing outflows, putting further pressure on Bitcoin prices and the broader digital asset market.

🔄Despite the calm in the market, analysts believe that a reversal is possible in the near future. What do you think about it? Share your opinion in the comments!