On July 1st, QCP Capital, a Singapore-based crypto investment institution, posted on social media that BTC rebounded from the $60,000 area to $63,700 after breaking the $60,000 support level last week, opening the first trading day of the second half of the year. BTC spot ETF inflows also continued to recover, with net inflows reaching $73 million on Friday, the highest daily net inflow level in the past two weeks.
From a seasonal perspective, BTC posted a median return of 9.6% in July, especially after a negative June (-9.85%). QCP Capital's options trading desk also observed the flow of funds last Friday, likely to usher in a rally in anticipation of the launch of the Ethereum Spot ETF. All signs point to a bullish July.
QCP Capital: All signs point to a bullish July
2024-07-01 05:49:45
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