According to ChainCatcher, QCP Capital, a Singapore-based crypto investment institution, posted on social media that BTC surged from the 60,000 area to 63,700 after breaking the $60,000 support level last week, opening the first trading day of the second half of the year. BTC spot ETF inflows also continued to recover, with net inflows reaching $73 million last Friday, the highest daily net inflow level in the past two weeks.

From a seasonal perspective, BTC's median return in July was 9.6%, especially after a negative growth in June (-9.85%). Our options trading desk also observed fund flows last Friday, which may have risen in anticipation of the launch of the Ethereum spot ETF. All signs point to a bullish July.