Crypto market analyst Ali Martinez predicts a Bitcoin price rebound in July following a bearish June. Martinez’s analysis shows that historically, Bitcoin has seen an average price increase of 7.98% in July after a negative June. The BTC price dropped by 9.25% over the past month, hitting a high of $71,907 and a low of $58,554.
Martinez also notes that Bitcoin’s largest average price return of 46.81% occurred in November. Currently, Bitcoin has gained a slightly bullish momentum, rising by 0.94% and trading at $61,450 with a market cap exceeding $1.2 trillion and a daily trading volume of $13.1 billion.
However, due to declining trading volume, lower price volatility and liquidations are expected for Bitcoin. Billionaire entrepreneur Peter Thiel, a supporter of Bitcoin, believes that the BTC price may not experience a significant rally despite holding a portion of the cryptocurrency. Thiel’s Founders Fund invested $200 million in Bitcoin last year when the price was around $30,000.
The downward momentum of Bitcoin began on June 10 when spot BTC exchange-traded funds in the U.S. saw net outflows for the first time in a month. Recently, these ETFs experienced $137.2 million in net inflows, totaling over $14.5 billion in net flows.