Crypto market rebound expected in August, JP Morgan reports

Crypto liquidations are expected to decrease this month, with a market rebound anticipated from August onward, CoinDesk reported, citing a JP Morgan research report released on July 10. However, the bank revised its year-to-date crypto net flow estimate from $12 billion to $8 billion, attributing the adjustment to high Bitcoin prices relative to production costs and gold. This reduction is mainly due to a decline in Bitcoin reserves on exchanges, likely driven by liquidations from Mt. Gox repayments and sales by the German government, the bank said.