Bitcoin performed poorly in June, dropping nearly 7%, but could see a strong rebound in July.
Bitcoin (BTC) prices have historically fallen an average of 0.35% in June. according to That’s according to data from Coinglass, which has been tracking monthly bitcoin revenue since 2013.
Data shows that over the past few years, whenever June has ended in a downtrend, there has been a sharp recovery the following month, with Bitcoin historically surging by an average of 7.42%.
Overall, BTC recorded monthly gains of at least 8% in seven of the past 11 trading periods in July.
Memecoin analyst Murad also emphasized this point in a post to X’s 103,000 followers, noting the rapid and historic recovery that began in July.
Murad noted that Bitcoin has recorded a minimum 28% increase in the first few weeks of July for each of the past six consecutive years.
However, many analysts predict that July could be a tougher month than usual, pointing out that the German government’s massive Bitcoin sell-off and the upcoming Mt. Gox payoff could put pressure on Bitcoin prices.
Mt. Gox Bitcoin puts new pressure on
Repayments are expected to begin in the first week of July, with approximately $8.5 billion worth of BTC due to be paid back to creditors.
However, many analysts believe the impact of these repayments will not be as severe as many investors expect, with only $4 billion impacting the spot BTC market.
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Jonathan de Wet, chief investment officer at digital asset trading firm ZeroCap, said in a recent interview with Cointelegraph that Bitcoin is continuing to trade robustly in the low-to-mid $60,000 range despite the headwinds.
He expects assets to remain around this level, but said they could fall to a “key support” level of around $57,000 in the coming weeks as repayments by Mt Gox creditors ripple through the market.
Historically, Bitcoin’s best performing month has been November, with its average monthly increase since 2013 being 46.81%.
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