Bitcoin Could See Slow Melt-Up or Consolidation Through July, Galaxy Digital Suggests
2025-07-19 05:27:06
Main Idea
Bitcoin could experience a gradual upward trend through July, supported by strong ETF inflows and treasury demand, but may face consolidation or a retracement below $110,000 due to market dynamics and historical patterns.
Key Points
1. Michael Harvey of Galaxy Digital projects Bitcoin could see a gradual upward trend through July, driven by strong inflows into US-based spot Bitcoin ETFs.
2. Bitcoin's recent peak at $122,884 and subsequent retracement to around $118,098 reflect typical market behavior after a rally.
3. A bear case scenario suggests Bitcoin could retrace below $110,000, potentially triggered by broader equity market conditions.
4. Historical patterns indicate Bitcoin's price trajectory often follows cycles, with a potential peak around October 2025, 550 days after the April 2024 halving.
5. Investors should monitor ETF flows, treasury accumulation, and broader market factors to navigate Bitcoin's evolving landscape.
Description
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