Matrixport’s recent analysis on July 14 highlighted a bullish outlook for Bitcoin, forecasting a potential surge to $117,244 driven by a historically strong seasonal pattern in July. Contrary to expectations of a subdued summer, empirical data reveals Bitcoin’s propensity to outperform during this period, with an average monthly gain of 9.1% over the past decade. Notably, 7 out of the last 10 Julys have yielded positive returns, underscoring a reliable upward trend.
The current macroeconomic landscape further bolsters Bitcoin’s momentum. Key factors include the US stock market hitting record highs, increased political pressure from former President Trump on the Federal Reserve, and the enactment of the “Big and Beautiful Act”, which raised the federal debt ceiling. These developments collectively foster a robust environment conducive to Bitcoin’s price appreciation, aligning with Matrixport’s earlier projections.
While the sustainability of this upward trajectory warrants ongoing analysis, the present data affirms that Bitcoin’s July performance remains consistent with established seasonal trends, offering investors a data-backed perspective on potential market movements.