Bitcoin Price Prediction for July: WIll BTC Recover?

The month of June was a tumultuous one for the Bitcoin price as it brought quite a lot of volatility.

Unfortunately, the price action was resolved to the downside, and the bears managed to push it down by 7.12%.

Will July be different?

Bitcoin Price Bullish in July

With June behind our backs, it’s worth noting that Bitcoin went on a complete rollercoaster during the past 30 days, soaring to as much as $72,000 and dropping to a low of slightly more than $58,000.

That said, the sellers were ultimately victorious, pushing the price down by about 7% in total.

But will things change in July? Well, according to the popular analyst Ali Charts on X, July is traditionally a strong month for Bitcoin.

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 9.6% during this month.

Source: Ali Charts, X

BTC Bulls Attempt a Comeback

If the last hours are any indication of how the month will go, then the above seems to be true.

Bitcoin’s price increased by 4% over the past day, currently trading at around $63,200. This has also pushed its weekly performance in the green by about 1.6%.

Source: TradingView

Naturally, this has put many short positions underwater, with liquidations for the past 24 hours standing at $106 million, with around 85% of them being sellers.

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