Since April, Bitcoin has been under pressure from various negative factors. Billion-dollar sell-offs, imminent selling pressure, assets exiting exchange-traded funds (ETFs) and peaking negative sentiment among retail investors have squeezed Bitcoin’s price between $59,000 and $74,000. However, with July approaching, which has historically been a bullish month for Bitcoin, this may soon change.

On the first day of July, almost $130 million in net inflows were recorded into US-listed ETFs. This amount was the highest inflow amount recorded after the $900 million outflow during June. This may indicate that investors’ interest in Bitcoin has been reignited.

Singapore-based investment company QCP Capital said in a statement on Telegram on Monday that “Bitcoin returned an average of 9.6% in July and recovered particularly strongly after a negative June (-9.85%).”

“Our options desk also saw bullish activity last Friday in anticipation of the Ethereum (ETH) spot ETF launch, which is likely to launch at the end of the month. Many signs point to July being in an uptrend,” QCP said in its statement. He included his statements.

Data shows that over the past decade, Bitcoin has gained an average of over 11% in July, delivering positive returns in 7 out of 10 months. These statistics support that Bitcoin has historically performed better in July.

In the 2023 report of the cryptocurrency fund Matrixport, it was stated that the July returns from 2019 to 2022 were around 27%, 20% and 24%, respectively. These rates suggest that Bitcoin could potentially experience a meaningful rise in July.

Seasonality is the tendency of investment instruments, including cryptocurrencies, to exhibit regular and predictable changes that recur each calendar year. Although it may seem random, there are logical explanations behind seasonality.

For example, investors selling to make a profit due to the tax season in April and May may push prices down, while the upward trend, commonly seen in December and called the “Santa Claus rally”, may increase demand from investors due to year-end celebrations and increased gift shopping.

Of course, seasonality is not an absolute rule and there are many other factors that affect the market. However, Bitcoin’s historical performance and July’s upward trend statistics paint a promising picture for investors.

It is important to closely monitor Bitcoin’s price movements in the coming weeks and base investment decisions on this information and your own research.