Crypto market analyst Ali Martinez anticipates a Bitcoin (BTC) price rebound in July following a bearish June, according to Martinez’s recent analysis. Historically, July has seen BTC prices rise by an average of 7.98% after negative trends in June. Data reveals a 9.25% decline in BTC price over the past month, with highs reaching $71,907 and lows dipping to $58,554.
Martinez’s data highlights November as the month with the highest average BTC price return at 46.81%. In related news, Bitcoin experienced a modest 0.94% increase in the past 24 hours, reaching $61,450. The flagship cryptocurrency’s market cap has surpassed $1.2 trillion again, accompanied by a daily trading volume of $13.1 billion.
Despite lower trading volumes, Bitcoin may experience reduced price volatility and liquidations. However, billionaire entrepreneur and Bitcoin advocate Peter Thiel remains cautious, suggesting that a significant price surge might not be imminent despite holding a stake in Bitcoin.
Last year, Thiel’s Founders Fund invested approximately $200 million in Bitcoin when prices hovered around $30,000. The downward trend in Bitcoin’s momentum began on June 10 with U.S.-based spot BTC exchange-traded funds (ETFs) experiencing net outflows for the first time in a month.
Contrarily, recent data indicates a reversal in ETF sentiment, with $137.2 million in net inflows recorded in the last four trading days, pushing total ETF net flows beyond $14.5 billion.
For more insights, Bitcoin’s resilience was evident even amid notable events like its absence from discussions during the Trump vs. Biden debate.