Bitcoin ETF

Bitcoin

when

Crypto market analyst Ali Martinez expects a price rebound for the Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) price in July after a month of bearish momentum. 
According to Martinez’s X post on Sunday, the Bitcoin price recorded an average price rebound of 7.98% in July after a “negative June.” Data shows that the BTC price plunged by 9.25% over the past 30 days.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Historically, when <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Bitcoin</a> has had a negative June, it tends to bounce back strongly in July. In fact, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BTC</a> has shown an average return of 7.98% and a median return of 9.60% during this month. <a href="https://t.co/fJaIwc7Eob" target="_blank" rel="">pic.twitter.com/fJaIwc7Eob</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1807326177910043012?ref_src=twsrc%5Etfw" target="_blank" rel="">June 30, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Bitcoin recorded a 30-day-high of $71,907 and a low of $58,554 in the mentioned timeframe.&nbsp; 
Moreover, data provided by Martinez shows that Bitcoin’s largest average price return of 46.81% happened in November.&nbsp; 
 You might also like: <a href="https://crypto.news/blackrock-reveals-large-bitcoin-etf-stake-with-43000-shares/"> Blackrock reveals large Bitcoin ETF stake with 43,000 shares </a> 
Bitcoin gained a slightly bullish momentum over the past 24 hours, rising by 0.94%. The flagship cryptocurrency is currently trading at $61,450 at the time of writing. BTC’s market cap again surpassed the $1.2 trillion mark with a daily trading volume of $13.1 billion. 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14282157"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/Screenshot-2024-06-30-135340-1024x543.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="543" src="https://crypto.news/app/uploads/2024/06/Screenshot-2024-06-30-135340-1024x543.png" alt="Bitcoin 'tends to bounce back' in July after negative June: Analyst - 27"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC price – June 30 | Source: Trading View
 </figcaption>
</figure> 
Due to the declining trading volume, lower price volatility and liquidations would be expected for Bitcoin.&nbsp; 
On the other hand, Billionaire entrepreneur and Bitcoin supporter Peter Thiel believes that the BTC price might not <a href="https://crypto.news/bitcoin-price-may-not-rise-that-dramatically-peter-thiel-says/">witness a dramatic rally</a>. Thiel’s comments come while he still holds a portion of Bitcoin.&nbsp; 
Last year, Thiel’s Founders Fund <a href="https://crypto.news/peter-thiels-founders-fund-reportedly-spent-200m-on-crypto/">invested</a> roughly $200 million in Bitcoin when the asset’s price was hovering at around $30,000.&nbsp; 
Bitcoin’s downward momentum started on June 10 when the spot BTC exchange-traded funds (ETFs) in the U.S. recorded their first set of net outflows in one month.&nbsp; 
Last week, spot BTC ETFs <a href="https://crypto.news/spot-bitcoin-etfs-rebound-with-137-2m-inflow-surge/">saw $137.2 million in net inflows</a> in their last four trading days. This pushed the total amount of ETF net flows past the $14.5 billion mark.&nbsp; 
 Read more: <a href="https://crypto.news/bitcoin-wasnt-mentioned-in-the-trump-v-biden-debate-bitcoin-didnt-care/"> Bitcoin wasn’t mentioned in the Trump v Biden debate. Bitcoin didn’t care </a>

Bitcoin ‘tends to bounce back’ in July after negative June: Analyst

crypto.news

Další články publikované 30. 6. 2024

Shiba Inu (SHIB) Rival Issues Major Scam Alert: What Happened?

Optimistic Bitcoin Holders Amid Market Slump: Potential Impact on BTC’s Value?

Vitalik Buterin’s Net Worth Revealed – How Much Ethereum Does He Own? Interestingly, He Doesn’t H...

BlockDAG Eyes $30 Target as Crypto Waves Rise with Ethereum ETF Excitement and Injective’s Record...

MoonBag Meme Coin Presale Soars; Collecting Over $3M in a Month As Tron and ChainGPT Grapple with...

Qubetics Whitelist Captivates Investors, Prompting Them to Ditch Solana and Cosmos

Join our free newsletter for daily crypto updates!