Bitcoin could drop below $63k as market structure remains volatile

Key takeaways

• Bitcoin (BTC) dropped below $64,000 despite improving derivatives data.
• Analysts at QCP note that July has historically been one of Bitcoin’s strongest months, averaging gains of around 7.5%.
• Glassnode says Bitcoin is showing signs of structural stabilization, with spot selling pressure easing significantly.

Bitcoin (BTC) started July on firmer footing, recovering above the $63,000 level as improving derivatives positioning and easing selling pressure helped stabilize the cryptocurrency market.

The rebound follows several weeks of volatility and comes as analysts point to historically favorable seasonal trends, strengthening technical conditions, and improving institutional flows as factors supporting Bitcoin’s recovery.

At the time of writing, Bitcoin was trading near $63,190, up approximately 0.6% over the past 24 hours.

July seasonality favors Bitcoin bulls

Analysts at crypto trading firm QCP noted that Bitcoin’s early-July recovery aligns with historical market patterns.

Accord...