Bitfinex released a report, analyzing that "according to past data, July is a positive month for Bitcoin." According to CryptoPotato, the report pointed out, "However, it will be difficult for Bitcoin to maintain a recovery in July based solely on seasonal factors. Continuous spot and institutional investment demand is necessary." Bitfinex added, "June was a difficult month for Bitcoin. Not only was the price weak, but spot demand and institutional investment inflows were also sluggish. In June, Bitcoin fell by 20.48% compared to the beginning of the month. This is much lower than the seasonal average of -1.5%," and "While there is a possibility that the market is nearing a bottom, it cannot be confirmed yet."
