As Bitcoin prices return to a bull market, the cryptocurrency market is surging in July. $BTC Bitcoin broke through the $65,000 mark, and the market is full of expectations for whether it can regain $70,000 in August.
On July 8, the German government sold 50,000 Bitcoins for a profit of $3 billion, causing the price to fall to $53,000. On July 13, Trump's shooting pushed Bitcoin prices up more than 10% that day. As of July 17, the spot price of Bitcoin exceeded $65,500. According to Lookonchain monitoring, the German government frequently transferred its Bitcoin holdings to major exchanges for sale, which is one of the main reasons for Bitcoin price fluctuations.
Martin Leinweber, director of digital asset research and strategy at MarketVector, pointed out that Trump's support for cryptocurrency is an important factor in the rise of Bitcoin. The Republican Party's "2024 Platform" promises to defend the rights of cryptocurrency. If Trump is elected, the United States' attitude towards cryptocurrency will take a sharp turn. Analysts believe that Bitcoin prices have returned to a bull market, and technical signals indicate that the selling pressure from long-term holders has stopped, and it may recover $70,000 or even higher in the future.
