Bitcoin’s price history shows that June is often a bearish month for the cryptocurrency. This year was no different, with Bitcoin rejecting many recovery attempts. Currently, Bitcoin’s price fluctuated between a low of $60,630.05 and a high of $61,605.23 in the past 24 hours, marking a 1.23% growth.
Will July Bring a Positive Change?
Historically, Bitcoin’s price trends are intriguing. According to Cryptorank, June will be the second negative month this year. January saw a modest gain of 0.87%, February and March ended with substantial increases of 44% and 16.3%, respectively. March’s bullish trend peaked with Bitcoin reaching an all-time high (ATH) of $73,750.07, largely due to the launch of the spot Bitcoin ETF.
However, April marked a bearish turn with a 14.7% drop. In May, Bitcoin rebounded with an 11.1% increase. Yet, June has seen an 8.79% decline so far. Historically, June has not been favorable for Bitcoin, ending in the red four out of the past five years.
Despite Bitcoin’s erratic performance, market experts remain optimistic about its future. Last June ended with an 11.9% gain, while July saw a 4.04% decline. This July, Bitcoin might break this trend and end on a positive note. With no major regulatory challenges ahead, Bitcoin’s future looks promising, especially with October’s historically bullish trend.
BTC Growth Catalysts to Watch
Several factors are driving Bitcoin’s resilience and growth. The biggest catalyst currently is the spot Bitcoin ETFs, which have helped prevent Bitcoin from falling toward the $50,000 support zone. Despite experiencing outflows this month, these ETFs hold significant recovery potential as more corporate entities enter the crypto market.
If this trend continues, the inflow into Bitcoin ETFs in the coming months could push Bitcoin’s price back to its previous ATH. The positive outlook for Bitcoin’s price history and the potential for a bullish July suggest that Bitcoin may soon see significant growth.