Bitcoin's June downtrend could be reversed

Despite facing a downtrend throughout June, Bitcoin may be about to reverse its price. This is important for the cryptocurrency market as it could signal a change in market sentiment and potentially lead to a new phase of growth. While the reversal will be localized, keeping Bitcoin within a specific range, it could provide much-needed stability and confidence to investors. 

Onchain data from Bitfinex shows that Bitcoin is under pressure from various investor groups, including whales and miners. This has led to increased BTC flows to exchanges, a trend that typically occurs before price drops. Miners have sold off their reserves, adding to the selling pressure.

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