{"id":627246,"date":"2024-07-01T23:30:15","date_gmt":"2024-07-01T23:30:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=627246"},"modified":"2024-07-01T16:40:02","modified_gmt":"2024-07-01T16:40:02","slug":"market-analysts-eye-july-for-potential-big-wins-in-bitcoin-and-ethereum-heres-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/market-analysts-eye-july-for-potential-big-wins-in-bitcoin-and-ethereum-heres-why\/","title":{"rendered":"Market Analysts Eye July for Potential Big Wins in Bitcoin and Ethereum \u2014 Here\u2019s Why"},"content":{"rendered":"<p>In the financial market, historical trends often offer a glimpse into potential future outcomes and so far, July has historically been a strong month for both Bitcoin and Ethereum, and analysts are eyeing this pattern to predict another <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-remains-bullish-as-new-btc-addresses-surge-to-new-2-month-highs\/\" target=\"_blank\" rel=\"noopener \">fruitful period.<\/a><\/p>\n<h2>A Profitable July For Bitcoin And Ethereum<\/h2>\n<p>According to seasoned market analysts from QCP Capital, Bitcoin has displayed a median return of 9.6% in July over the years, with a pattern of bouncing back significanly following lackluster performances in June. This year, Bitcoin&#8217;s decline of nearly 10% in June sets the stage for a <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-spikes-63500\/\" target=\"_blank\" rel=\"noopener \">possible uplift<\/a> in July based on these historical insights.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">3\/ Looking at seasonality, BTC has a median return of 9.6% in July and tends to bounce back strongly especially after a negative June (-9.85%).<\/p>\n<p>\u2014 QCP (@QCPgroup) <a href=\"https:\/\/twitter.com\/QCPgroup\/status\/14555747?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">July 1, 2024<\/a><\/p><\/blockquote>\n<p>Adding to the optimistic outlook, Coinbase analysts David Duong and David Han have <a href=\"https:\/\/www.coinbase.com\/en-gb\/institutional\/research-insights\/research\/weekly-market-commentary\/weekly-2024-06-28?utm_campaign=campaign_10272849&amp;utm_medium=email&amp;utm_source=Iterable\" target=\"_blank\" rel=\"noopener nofollow\">corroborated<\/a> the trend, noting that improved liquidity conditions expected in July could further &#8220;bolster&#8221; the market.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-nears-64515-resistance-will-a-breakthrough-ignite-a-bullish-run\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run?<\/a><\/div>\n<p>The aftermath of June&#8217;s sell-offs has cleansed the market of excess positions, potentially paving the way for more stable and positive price movements.<\/p>\n<p>Moreover, the trading volumes for Bitcoin and Ethereum, encompassing both spot and futures across global exchanges, have witnessed a dip from $90 billion in May to $75 billion in June. This consolidation in trade volumes is seen as setting a healthier stage for the next wave of <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-blasts-past-63000-top-3-reasons\/\" target=\"_blank\" rel=\"noopener \">market activity<\/a>, according to the analysts..<\/p>\n<p>The positive July seasonality is not just a pattern observed in the top cryptocurrencies but is also underpinned by broader market dynamics.<\/p>\n<p>Analysts like Ali have pointed out that the recovery patterns post-June slumps particularly indicate &#8220;strong bounce back&#8221; in July performances historically.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Historically, when <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> has had a negative June, it tends to bounce back strongly in July. In fact, <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$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=\"noopener nofollow\">pic.twitter.com\/fJaIwc7Eob<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/10043012?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">June 30, 2024<\/a><\/p><\/blockquote>\n<p>This has been particularly true for Bitcoin, which has shown an average return of nearly 8% during this month.<\/p>\n<h2>BTC Current Market Performance<\/h2>\n<p>It is worth noting that the setup for a bullish July is further supported by the technical analysis of Bitcoin\u2019s recent price movements.<\/p>\n<p>In the past 24 hours alone, Bitcoin has surged by 2.7% currently<a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-nears-64515-resistance-will-a-breakthrough-ignite-a-bullish-run\/\" target=\"_blank\" rel=\"noopener \"> trading at $63,104<\/a>, marking a promising start to the month. This recent uptick has pushed its weekly gains to a similar 2.7%, reflecting growing investor confidence.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/oICCl65Y\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=FX%3AEURUSD\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Despite these historical and current positive indicators, the predictions aren&#8217;t without their challenges. Market conditions, including macroeconomic factors and regulatory developments could still influence crypto prices in a way not expected.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-weekend-trading-takes-a-siesta-volumes-plunge-to-record-lows\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows<\/a><\/div>\n<p>Additionally, while analysts provide a hopeful outlook based on statistical and historical data, the volatile nature of cryptocurrency markets means that <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-weekend-trading-takes-a-siesta-volumes-plunge-to-record-lows\/\" target=\"_blank\" rel=\"noopener \">significant divergences<\/a> from past trends can still occur.<\/p>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the financial market, historical trends often offer a glimpse into potential future outcomes and so far, July has historically been a strong month for both Bitcoin and Ethereum, and analysts are eyeing this pattern to predict another fruitful period. A Profitable July For Bitcoin And Ethereum According to seasoned market analysts from QCP Capital, Bitcoin has displayed a median return of 9.6% in July over the years, with a pattern of bouncing back significanly following lackluster performances in June. This year, Bitcoin&#8217;s decline of nearly 10% in June sets the stage for a possible uplift in July based on these historical insights. 3\/ Looking at seasonality, BTC has a median return of 9.6% in July and tends to bounce back strongly especially after a negative June (-9.85%). \u2014 QCP (@QCPgroup) July 1, 2024 Adding to the optimistic outlook, Coinbase analysts David Duong and David Han have corroborated the trend, noting that improved liquidity conditions expected in July could further &#8220;bolster&#8221; the market. Related Reading: Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run? The aftermath of June&#8217;s sell-offs has cleansed the market of excess positions, potentially paving the way for more stable and positive price movements. Moreover, the trading volumes for Bitcoin and Ethereum, encompassing both spot and futures across global exchanges, have witnessed a dip from $90 billion in May to $75 billion in June. This consolidation in trade volumes is seen as setting a healthier stage for the next wave of market activity, according to the analysts.. The positive July seasonality is not just a pattern observed in the top cryptocurrencies but is also underpinned by broader market dynamics. Analysts like Ali have pointed out that the recovery patterns post-June slumps particularly indicate &#8220;strong bounce back&#8221; in July performances historically. Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month. pic.twitter.com\/fJaIwc7Eob \u2014 Ali (@ali_charts) June 30, 2024 This has been particularly true for Bitcoin, which has shown an average return of nearly 8% during this month. BTC Current Market Performance It is worth noting that the setup for a bullish July is further supported by the technical analysis of Bitcoin\u2019s recent price movements. In the past 24 hours alone, Bitcoin has surged by 2.7% currently trading at $63,104, marking a promising start to the month. This recent uptick has pushed its weekly gains to a similar 2.7%, reflecting growing investor confidence. Despite these historical and current positive indicators, the predictions aren&#8217;t without their challenges. Market conditions, including macroeconomic factors and regulatory developments could still influence crypto prices in a way not expected. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows Additionally, while analysts provide a hopeful outlook based on statistical and historical data, the volatile nature of cryptocurrency markets means that significant divergences from past trends can still occur. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":627257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,678,1119,78790,6664,10923,87080,1946],"class_list":["post-627246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-eth-market","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Market Analysts Eye July for Potential Big Wins in Bitcoin and Ethereum \u2014 Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"So far, July has historically been a strong month for both Bitcoin and Ethereum, and analysts are eyeing this pattern to 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Market Analysts Eye July for Potential Big Wins in Bitcoin and Ethereum \u2014 Here\u2019s 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