"Bitcoin maintains a lateral trend around $9.200 with low trading volumes of about $15B. At the moment, Bitcoin is not following the trend of traditional stock markets, which are growing moderately. It looks like investors who are withdrawing their crypto funds and those who have adopted the HOLD investment strategy are responsible for this divergence. Glassnode reported that on July 8, Bitcoin outflows from crypto exchanges exceeded deposits by almost 21,000 BTCs. In particular, Coinbase was the most affected platform. Apparently, miners are also taking part in the process because BTC's current price is not enough for them to keep the activity profitable. The greed and fear index has grown by several points since last week, remaining in the 'fear' area, however, the value of the index is close to the 'neutral area', reflecting the confusion of market participants. While some investors think it's not time to buy, others do not want to sell either. There are a lot of processes that could cause extreme volatility of all asset classes at once, so the result of the current side effects could be sudden and abrupt."
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