Crypto Market Sees July Rally, But Momentum Remains Uncertain

The crypto market began July on a positive note, with Bitcoin rising 6.26% from its low of July 1 and altcoins gaining 4.05% in market cap.

Despite aggressive buying, Bitcoin's open interest fell, indicating limited momentum to sustain the rally.

ZCash rose 5.28%, but showed weak speculative interest and faces a critical resistance zone between $480-$540.

If ZCash fails to break this range and falls below $360-$380 support, further declines toward $300 could occur, especially if Bitcoin's bounce loses steam.