The price of Bitcoin (BTC) has been volatile in June, with several attempts at recovery failing. However, historical trends suggest that BTC may see a rebound in July. According to Cryptorank, June will mark the second month this year with a negative closing price for Bitcoin. While January closed slightly down, February and March saw significant gains, with BTC reaching its All-Time High (ATH) of $73,750.07 in March following the launch of the spot Bitcoin ETF. The bullish streak ended in April, but Bitcoin rebounded in May. Despite the recent drop in June, historical data shows that BTC often bounces back strongly in July, with an average return of 7.98% and a median return of 9.60% during this month. Market experts remain optimistic about Bitcoin's future trajectory, citing spot BTC ETFs as a key growth catalyst. While these ETFs have seen some outflows this month, they are expected to attract intensive inflow in the coming months, potentially driving Bitcoin back to its previous ATH. Bitcoin's historical performance in July and the potential for spot BTC ETFs to boost demand provide reason for optimism among market experts.
Key Points:
Bitcoin (BTC) has experienced volatility in June, with several failed attempts at recovery.
Historical trends suggest that BTC may bounce back strongly in July, with an average return of 7.98% and a median return of 9.60% in the past.
Spot BTC ETFs are considered a key growth catalyst for Bitcoin, despite recent outflows.
Market experts expect intensive inflow into spot BTC ETFs in the coming months, which could drive Bitcoin back to its previous ATH.
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