As a seasoned crypto investor with several years of experience in the market, I’ve learned to take both the ups and downs in stride. June was undeniably a challenging month for Bitcoin, with its erratic price action resulting in a 7.12% drop. However, I remain optimistic about July based on historical trends.
As an analyst, I can tell you that the Bitcoin price experienced significant fluctuations during the month of June.
Regrettably, the price trend ended with a decrease, resulting in a 7.12% drop at the hands of the bearing market.
Will July be different?
Bitcoin Price Bullish in July
Reflecting on the past month as a crypto investor, it’s clear that Bitcoin took us on an exhilarating ride. It peaked at around $72,000 before dipping down to just over $58,000.
That said, the sellers were ultimately victorious, pushing the price down by about 7% in total.
Based on the analysis of Ali Charts on X, Bitcoin typically experiences strength during the month of July.
Historically speaking, Bitcoin typically recovers well after experiencing declines in the previous month, which is June. On average, Bitcoin has yielded a return of 7.98% and a median return of 9.6% in July.
BTC Bulls Attempt a Comeback
If the last hours are any indication of how the month will go, then the above seems to be true.
The value of Bitcoin rose by approximately 4% within the last 24 hours and is now approximated to be at $63,200. Consequently, its weekly gains have amounted to nearly 1.6%.
This development has caused significant losses for those holding short positions, resulting in a total of $106 million in liquidations over the last day. Approximately 85% of these losses were incurred by sellers.
