Derive researcher expects BTC to underperform in Q3

Brian Quinlivan, an analyst at crypto market intelligence platform Santiment, told Cointelegraph that investor sentiment remains bullish on social media after Bitcoin's (BTC) recent approach to all-time highs. "Since markets move the opposite direction of retail’s expectations, this usually is a sign that we aren’t quite ready for another bullish surge yet,” said Quinlivan. Sean Dawson, Head of Research at crypto derivatives platform Derive, noted that since 2013, BTC has seen the weakest performance in the third quarter (Q3) of each year, with an average return of just 6.03%. The high likelihood for the U.S. Federal Reserve to keep interest rates steady could also "dampen Bitcoin’s appeal for outsized returns," Dawson added.