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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-61k-struggle-will-july-bring-a-rebound/">Bitcoin Price Struggles at $61K: Will July Bring a Rebound?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Is <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> stuck in a rut? After weeks of growing pessimism in the crypto market, the king of coins, Bitcoin (BTC), is hovering around $61,000. Investors are anxiously eyeing July, hoping for a price surge. But will their wishes come true, or is Bitcoin headed for a deeper plunge before the month’s end?</p> 
<p>The answer might surprise you…</p> 
<h2 class="wp-block-heading" id="h-is-sell-off-season-behind-us">Is Sell-Off Season Behind Us?</h2> 
<p><a href="https://coinpedia.org/news/germanys-900-bitcoin-transfer-sparks-crypto-market-speculation/" target="_blank" rel="noreferrer noopener">The German</a> and United States governments, along with concerns about the <a href="https://coinpedia.org/news/mt-goxs-new-chapter-closure-of-compensation-saga/" target="_blank" rel="noreferrer noopener">Mt. Gox repayment</a> program, have added to the bearish sentiment. Despite this, recent small cash inflows into U.S. spot Bitcoin ETFs have eased immediate concerns.</p> 
<p>Looking forward, the upcoming listing of spot Ether ETFs in the U.S. next month could further affect Bitcoin’s prospects. There’s been a notable shift of crypto assets from Bitcoin to other coins, hinting at a possible reversal in <a href="https://coinpedia.org/news/bitcoin-inflows-paint-rosy-picture-amid-price-targets-of-56000-and-58000/" target="_blank" rel="noreferrer noopener">Bitcoin dominance</a>.</p> 
<h2 class="wp-block-heading" id="h-analyst-insights">Analyst Insights</h2> 
<p>According to a popular crypto trader and analyst alias Mags on X platform, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> is currently hovering around a crucial support level that must hold to avoid further crypto capitulation. The crypto analyst highlighted that the critical support level around $60k must hold to avoid a sudden nosedive towards the range between $50k and $52k.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> range low must hold else $50,000 ?<br><br>BTC is testing the range low for the 5th time since March. Price has been ranging for the past few months in a tight range, and a massive breakout is imminent.<br><br>Currently, the price is at a critical support zone that must hold. We have… <a href="https://t.co/SUcEIBFhLM">pic.twitter.com/SUcEIBFhLM</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1806241066884211174?ref_src=twsrc%5Etfw">June 27, 2024</a>
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<p>With Bitcoin price on the weekly time frame having rebounded off the $60k level severally in the past four months, the crypto analyst is confident of a market reversal towards a new all-time high soon.</p> 
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   <p lang="en" dir="ltr">This would likely be the case for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.<br><br>Preferably we sweep the $60K area where a bullish divergence kicks in.<br><br>Reversal coming from next week with the impending Ethereum ETF listing. <a href="https://t.co/f3RlCzW2gv">pic.twitter.com/f3RlCzW2gv</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1806259928258191865?ref_src=twsrc%5Etfw">June 27, 2024</a>
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<p>Analyst Michaël van de Poppe echoes similar sentiments, highlighting the potential impact of upcoming Ether ETF listings. He suggests these could contribute to a more positive outlook for cryptocurrencies in the near future, indicating growing anticipation among investors.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/cardano-moves-to-icc-prepares-for-chang-hard-fork/" target="_blank" rel="noreferrer noopener">Cardano Decentralizes Governance with New ICC for Chang Hard Fork</a></p> 
<p><strong>Navigating these uncertain times requires cautious optimism and strategic insights. Do you have some in place? </strong></p>

Bitcoin Price Struggles at $61K: Will July Bring a Rebound?

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