July has been historically a positive month for bitcoin and this edition hasn’t disappointed so far. The cryptocurrency began the month on the wrong foot, dipping below $58,000 for the first time in nearly two years, but it rebounded swiftly in the following weeks.
Earlier today, it rocketed past $66,000 for the first time in over a month, gaining over $8,000 since that July 1 low. Here are some of the possible reasons behind it.
As June was coming to an end and it became known that it would be a highly painful month for the asset with a nosedive of over 20%, we outlined several factors that had to change in July for a price resurgence. One of them was the ETF inflows. The financial vehicles went on a violent eight-week withdrawal-only streak, which was finally snapped a couple of weeks ago.
Moreover, investors continued to pour funds into the ETFs, which ended two weeks in the green in a row for the first time in months. July 20 extended the streak as the funds attracted almost $227 million.
The second major reason for the price revival is whale behavior. Data shared by CryptoQuant indicated that large market participants holding between 1,000 and 10,000 BTC increased their 60-day net accumulation to roughly 66,700 units, which is close to the recent record seen a month ago.
“This is the cohort’s strongest accumulation reading since February 17, when net accumulation briefly exceeded 106,000 BTC.”
The third reason has a more macro scent. It came a week ago when the US CPI numbers for June were announced, showing softer-than-expected inflation rates. BTC rallied immediately after the news went live as lower inflation reduced the pressure on the Fed to hike interest rates. Similar market conditions are regarded as beneficial for risk-on assets like bitcoin.
Last but perhaps most importantly at the moment comes a development on the CLARITY Act. After the odds of approval dropped toward 30% just days ago, reports 📌 推荐交易所
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小靓分析：
🦊 小靓解读
7月是比特币历史上典型的反弹月，这次从58,000美元低点拉升至66,000美元以上，核心驱动力是ETF资金从连续八周净流出转为流入，市场情绪从恐慌转向乐观。📈
📊 市场影响
短期来看，ETF资金流入若能持续，BTC有望站稳66,000美元并测试70,000美元阻力位；但若宏观数据（如美联储利率决议）偏鹰，回调风险仍在，需警惕获利盘抛压。⚖️
💡 操作建议
建议交易者关注ETF日净流入数据和BTC链上巨鲸持仓变化，若66,000美元确认支撑可轻仓做多，止损设在64,000美元下方；若资金流再次转负，优先减仓观望。🚨
风险提示：
该资讯来源于公开渠道，仅供参考。Traceless 无痕智盈平台不对此信息准确性做任何保证。