Crypto market capitalization fell 14% in June, from a peak of $2.78 trillion at the beginning of the month to about $2.4 trillion at the end of the month. But, don't worry! Usually June is bearish, and if history repeats itself, July could be a moment of market recovery. 📈

On June 30, market analyst Murad Mahmudov posted a chart showing a bullish recovery in July after the local market's June decline since 2018.

June 2023 sees the market capitalization fall to just over $1 trillion. However, there was a recovery in July, with the market up more than 22% mid-month.

“Bitcoin is on the verge of challenging the June downtrend for a breakout,” said ‘Rekt Capital’ analysts on June 30. They added that BTC needs a daily close above the June downtrend to initiate a breakout.

However, the payment of Mt. Gox, estimated at more than $8 billion BTC, is scheduled to start early July, which could hinder the asset's performance.

It is also observed that M2 Money Supply, which has been linked to the crypto market cycle, is expanding again. This would be very good for crypto as more money in the system leads to greater liquidity and investment into high-risk assets.

What do you think? Will July be a bullish month for Bitcoin? Share your opinion in the comments column! 💬