Bitcoin Price Never Lost More Than 10% in July — Is 2023 Any Different?

Bitcoin looks poised for a $35,000 "cash hunt", but not everyone is convinced that the price hike of BTC will last beyond July.

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Bitcoin (BTC) gained 12% in June, but a forecast predicts that the good times will soon fade for the bulls.

In a July 1 tweet, popular trader CryptoBullet admitted that July might not offer much more BTC price upside.

Trader: BTC Price Rise Will "Likely" End This Month

Despite a last-minute drop, thanks to a macro news event, Bitcoin managed to end June in a strong position.

Data from Cointelegraph Markets Pro, TradingView and CoinGlass confirms the monthly close was $30,465 on Bitstamp.

BTC/USD hourly chart. Source: TradingView

These levels hold through the weekend, with last month marking Bitcoin's best performance in June since 2019.

By historical standards, July is looking even better; throughout its history, BTC price action has never lost more than 10% in the month.

BTC/USD monthly returns (capture of screen). Source: CoinGlass

For CryptoBullet, however, "common sense" dictates that BTC/USD should fall below some key moving averages.

"So June surprised me. We...