QCP Capital said in a post that BTC rebounded from the $60,000 area to $63,700 at the beginning of the second half of the year, and briefly fell below the $60,000 support level last week.

BTC spot ETFs saw a net inflow of $73 million last Friday, the highest single-day inflow in two weeks. According to seasonal data, BTC's median return in July was 9.6%, especially after a strong rebound after a negative return in June (-9.85%).

QCP Capital's options trading department also observed capital flows last Friday in preparation for a month-end rally, possibly in anticipation of the launch of the ETH spot ETF. All signs point to July being a bullish month.