The cryptocurrency market has experienced considerable turbulence over the past few months. Despite a recent upturn, the market capitalization is still down 14% from its peak in March.

According to a Binance Research report, June saw a “brutal” 11.4% total market capitalization downturn coinciding with the recent German government Bitcoin (BTC) sell-off.

Large Bitcoin
BTC

tickers down
$66,638

 movements by the United States government on June 26 and as Mt. Gox creditor repayments started on July 5, with 140,000 BTC set to re-enter the market, have only fueled the fire.

Significant Bitcoin
BTC

tickers down
$66,638

 transactions by the United States government on June 26, combined with the commencement of Mt. Gox creditor repayments on July 5, which released 140,000 BTC back into the market, have further exacerbated the situation.