Good News for a Summer Rally in Bitcoin: Analysts Share Bullish Signals for BTC!

Received SEC approval in May spot Ethereum ETFThe critical week has begun for the ‘s, as many top analysts predict that ETH ETFs could start trading on July 4th.

As expectations for ETFs rise, leading cryptocurrencies Bitcoin After testing below the $60,000 support level last week, the stock started the week positively by rising.

Spot BTC ETF inflows were also effective in BTC rising above $63,000, QCP Capital A new assessment came from analysts.

Analysts stated that Bitcoin continued to recover with a net inflow of $73 million seen in spot ETF inflows last Friday, and said that these inflows were the highest daily inflows in the last 2 weeks.

QCP analysts point out that Bitcoin’s performance in July was generally positive He said that BTC is showing a strong recovery trend for July.

Analysts are likely to end ETH He said that investors are also on the rise in anticipation of the spot ETF launch, and that many signs such as historical performance and ETF inflows point to an increase in July.

“BTC started the second half well by rallying from the $60,000 zone to $63.7000 after breaking below the $60,000 support level last week.

BTC spot ETF inflows also continued to recover with net inflows of $73 million last Friday, the highest daily inflow in 2 weeks.

Looking at seasonality, BTC has an average return of 9.6% in July and is particularly likely to bounce back strongly after a negative June (-9.85%).

“Our options desk also saw flows last Friday positioning for an upward move towards the end of the month, likely awaiting the ETH spot ETF launch. Many signs point to a bullish July.”

The German government Bitcoin reacting to the sale BTC At the time of writing, it fell below $63,000 to $62,826 Ethereum It continues to trade at $3,482.

*This is not investment advice.