Bitcoin typically experiences a rebound in July following a downbeat June.

According to Martinez’s recent post, the Bitcoin price saw an average rebound of 7.98% in July after a challenging June. Over the past 30 days, the BTC price fell by 9.25%, reaching a high of $71,907 and a low of $58,554. Data from Martinez also reveals that the largest average price return of 46.81% occurred in November. In the last 24 hours, Bitcoin gained a slightly bullish momentum, rising by 0.94%.

Its current trading price is $61,450, with a market cap surpassing $1.2 trillion and a daily trading volume of $13.1 billion. It’s noted that Thiel holds a portion of Bitcoin amidst these developments. Bitcoin’s downward momentum began on June 10, coinciding with the spot BTC exchange-traded funds (ETFs) in the U.S. witnessing net outflows for the first time in one month, pushing the total ETF net flows past the $14.5 billion mark.

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