Crypto Likely to See Muted Recovery as Market Eyes US Earnings Season

Crypto Likely to See Muted Recovery as Market Eyes US Earnings Season

The cryptocurrency market is likely to see a muted recovery in the near term, as investors keep a close watch on the upcoming US earnings season for clues about the health of the economy. According to Ruslan Lienkha, a market analyst at crypto exchange and lending company YouHodler, the market may see a temporary bounce after yesterday's sell-off, but the sentiment is too bearish to make any significant upward moves. "The recent downturn was more driven by external factors rather than issues within the crypto market itself, but it's too early to tell if we're in a bear market," Lienkha said. "The market sentiment will likely depend on how the Q2 earnings of Nasdaq-listed companies come out." The US earnings season is set to kick off in mid-July, with major companies like Apple, Microsoft, and Amazon reporting their financial results. Investors will be looking for signs of strength in the earnings reports, as well as any commentary from company executives about the economic outlook. If the earnings reports are positive, it could provide some support to the crypto market, as it would indicate that the economy is still on solid footing. However, if the earnings reports are weak, it could weigh on the crypto market, as it would raise concerns about the health of the economy and the potential for a recession.