BTC is off to a fierce start this July just like the analysts called it from the charts 🖤. The top coin clawed back from that $57,700 floor straight up to $64,000, locking in as a major pivot zone.
According to the fresh CryptoQuant weekly report, this rebound rides July’s sunny seasonality and rising demand that should spark a serious pump before the month closes ✨.
July’s Dark Momentum Ignites for Bitcoin 🌑
CryptoQuant analysts backed it with old data proving the seasonal push hits hardest in July during bear phases. BTC has turned into July’s favorite moon month across the last decade with 20% and 17% closes in the 2018 and 2022 bear cycles 🦇.
So far this month BTC already climbed 11% from the $57,700 lows and sits above $64,000. That positive July flow usually shows up no matter how weak the bigger trend feels. Since we entered July right off a bear low the odds tilt toward more upside thanks to the seasonal tailwind 💉.
Total BTC demand is also crawling back toward neutral after its sharpest drop since 2022. The 30-day demand metric recovered from -650,000 BTC in early June when price kissed $58,000.
Demand Needs More Fire to Break the Bear 🕯️
U.S. investor appetite is perking up too, visible in the Coinbase Premium Index lifting from deep negatives to -0.062 after the $57,000 bounce. Selling pressure on American platforms is easing while institutions look steadier 📊.
Market vibes remain deeply bearish though, with the CryptoQuant Bull Score Index stuck at 20 in the danger zone. BTC sits in short-term undervalued territory so more recovery is possible but stronger demand must show up first.
The Bull Score Index needs to clear above 60 before any rally can hold. Until then every bounce stays a bear-market recovery, not the trend flip everyone wants.
Just another echo from the void by iconofsin.eth 💖
