Bitcoin traders expect a bullish July with a median return of 9.6%, supported by ETF inflows of $124 million and historical seasonal trends. Will Bitcoin Surge in July? Experts Weigh In!
Bitcoin traders have reasons to be optimistic this July, as historical trends and significant ETF inflows suggest a potential price surge for the largest cryptocurrency. After months of trading within a narrow range, Bitcoin may be poised for a strong rebound, driven by seasonal cycles and renewed investor interest.
Key Points:
Historical Performance:
Bitcoin has a median return of 9.6% in July, often bouncing back after a negative June.
Over the past decade, Bitcoin has shown positive returns in July seven out of ten times, averaging an 11% gain.
From 2019 to 2022, July returns were 27%, 20%, and 24%, respectively.
Recent Price Movement:
Since April, Bitcoin's price has fluctuated between $59,000 and $74,000.
The market has faced billions in sales, upcoming selling pressure, and outflows from ETFs.
ETF Inflows:
U.S.-listed ETFs recorded nearly $130 million in inflows on the first day of July.
This is the highest inflow since early June, following over $900 million in outflows during June.
Market Sentiment:
QCP Capital notes positive sentiment, with traders positioning for an upside move.
Anticipation of the ETH spot ETF launch may also contribute to bullish expectations.
Seasonal Trends:
Seasonal cycles like tax season profit-taking in April and May can lead to predictable price changes.
December typically sees increased demand, known as the "Santa Claus" rally.
Bitcoin traders are gearing up for a potentially bullish July, bolstered by historical performance, significant ETF inflows, and favorable seasonal trends. While past performance is no guarantee of future results, the signs point to a positive month ahead for Bitcoin, potentially offering relief after recent market challenges.
Source: Coindesk
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