Bitcoin is having a rough month. June is shaping up to be its worst month since mid-2022, with BTC down around 18.5% and struggling to hold the $60,000 mark. So naturally, everyone’s asking: does July bring relief?
One analyst thinks so. Going by the handle Fleh, they predict BTC could rally toward $75,000 next month. The reasoning? A massive cluster of short liquidation levels sits above the current price, creating what traders call a “magnet zone” near $67,600. If Bitcoin pushes up there, short sellers get squeezed, forced buying kicks in, and the price could rip higher.
History backs up the optimism somewhat. Bitcoin has gained an average of 7.6% in July historically. During midterm election years specifically, that average jumps to 10.3%. Even in brutal bear markets, July has been kind — BTC rose 20.96% in July 2018 and 16.8% in July 2022.
But it’s not all sunshine. Bitcoin recently dipped below its 200-week moving average near $62,445. That’s the same kind of breakdown that preceded deeper losses in 2022. A bear flag pattern on the chart suggests $55,000 is in play if $60,000 fails as support.
So: $75,000 or $55,000? The magnets are pulling in both directions.
