Bitcoin (BTC) Set for Strong Performance in July, Say Analysts

Before you reading, if you are a whale yo must be in here:
API Trading, Bot Trading and advanced trading: click, join and trade!

• Bitcoin (BTC) and Ethereum (ETH) are expected to see a bullish trend throughout July, according to analysts.
• Both Bitcoin and Ethereum have historically shown better performance in July compared to other months.
• QCP Capital analysts note a potential 9.6% average return for Bitcoin in July, illustrating a strong recovery from June’s downturn of -9.85%.

Analysts predict a bullish trend for Bitcoin and Ethereum in July, highlighting historical patterns and improved market conditions as key factors.

July: A Historically Strong Month for Bitcoin (BTC)

Coinbase analysts David Duong and David Han emphasize the historical cycles that suggest a positive trend for Bitcoin and Ethereum this month. In their weekly report released on Friday, they mentioned that the favorable seasonality of July, along with improving liquidity conditions, could support the market.

According to Coinbase analysts, Bitcoin and Ethereum have historically outperformed in July, especially following the market’s downturn in June. They believe that the current market structure looks supportive after clearing the excess length post the Mt. Gox announcement.

Enhanced Liquidity Post Decline in Trading Volumes

The analysts mentioned that the daily average volumes for Bitcoin and Ethereum across global exchanges (spot and futures) have decreased by approximately 16.7%. This decline—from $90 billion in May to $75 billion in June—could potentially lead to enhanced liquidity in July.

Recent Performance Highlights

TRUSTED BY COINOTAG,
Did you missed $MEME, $PEPE or Bitcoin? No worries! Click here to sign up chosen altcoin exchange!

Bitcoin started July on an optimistic note, rebounding from a brief dip to the $59,000 level last week, and surged from the $60,000 range to $63,500 on Monday. This rise correlates with a recovery in spot BTC Exchange Traded Fund (ETF) inflows, which reached a two-week high of $73 million in net entries on Friday.

Conclusion

In summary, the historical trends and improved market conditions present a bullish outlook for Bitcoin and Ethereum in July. Investors should remain cautious and undertake their own research before making any investment decisions.