CoinWorld News Report:
June was a turbulent month for Bitcoin prices, as it brought significant volatility.
Unfortunately, the downward trend in prices was resolved as the bears managed to push it down by 7.12%.
Will July be any different?
Bitcoin prices in July are expected to rise
As June comes to a close, it is worth noting that Bitcoin has experienced a rollercoaster ride over the past 30 days, surging to $72,000 and dropping to a low of just above $58,000.
In other words, the sellers emerged victorious, pushing the price down by a total of approximately 7%.
But will the situation change in July? Well, according to Ali Charts, a popular analyst on X, July is traditionally a strong month for Bitcoin.
Historically, when Bitcoin has a negative performance in June, it tends to have a strong rebound in July. In fact, the average return rate for BTC this month is 7.98%, with a median return rate of 9.6%. Source: Ali Charts, X
BTC bulls attempt a comeback
If the past few hours are any indication of how this month will unfold, it seems to be true.
Bitcoin’s price has risen by 4% in the past day, currently trading at around $63,200. This has also improved its performance in the green market by approximately 1.6% for the week.
Source: TradingView
Naturally, this has put many short positions in a difficult situation, with a liquidation amount of $106 million in the past 24 hours, of which approximately 85% belongs to sellers.
