Crypto market analyst Ali Martinez expects a price rebound for the Bitcoin (BTC) price in July after a month of bearish momentum.

In response to Martinez’s X put up on Sunday, the Bitcoin price recorded a mean price rebound of seven.98% in July after a “negative June.” Information exhibits that the BTC price plunged by 9.25% over the previous 30 days. 

Bitcoin recorded a 30-day-high of $71,907 and a low of $58,554 within the talked about timeframe. 

Furthermore, information offered by Martinez exhibits that Bitcoin’s largest common price return of 46.81% occurred in November. 

Bitcoin gained a barely bullish momentum over the previous 24 hours, rising by 0.94%. The flagship cryptocurrency is at present buying and selling at $61,450 on the time of writing. BTC’s market cap once more surpassed the $1.2 trillion mark with a each day buying and selling quantity of $13.1 billion.

As a result of declining buying and selling quantity, decrease price volatility and liquidations could be anticipated for Bitcoin. 

However, Billionaire entrepreneur and Bitcoin supporter Peter Thiel believes that the BTC price may not witness a dramatic rally. Thiel’s feedback come whereas he nonetheless holds a portion of Bitcoin. 

Final yr, Thiel’s Founders Fund invested roughly $200 million in Bitcoin when the asset’s price was hovering at round $30,000. 

Bitcoin’s downward momentum began on June 10 when the spot BTC exchange-traded funds (ETFs) within the U.S. recorded their first set of internet outflows in a single month. 

Final week, spot BTC ETFs noticed $137.2 million in internet inflows of their final 4 buying and selling days. This pushed the whole quantity of ETF internet flows previous the $14.5 billion mark.