According to BlockBeats, on July 2nd, according to The Block data, the spot trading volume of CEX in June fell to $1.07 trillion, lower than the $1.47 trillion in May and hitting a nine month low. Presto Research research analyst Min Jung said, "Although Bitcoin remains stable and not far from historical highs, the altcoin market is struggling, with most altcoins, including ETH, still falling nearly 40% from their peak. This indicates that the market is mainly driven by institutional investors purchasing Bitcoin, while the participation of retail investors who typically favor altcoins remains relatively low