Bitfinex: BTC bear market nearing its end, July rebound potential grows

Bitfinex noted in its latest Alpha report that Bitcoin (BTC) is showing a historical pattern of entering a full recovery phase after a bear market trend lasting about five to six months below its short-term holder realized price of $72,200. The report explained that with July marking the fifth month of the current downturn, the possibility of a significant rebound is growing. BTC has maintained relative stability recently, absorbing large-scale corporate selling and geopolitical risks. Last week, it held the $60,000 support level despite Strategy's (MSTR) largest-ever BTC sale and internal policy disagreements at the Fed. Additionally, spot BTC ETFs recorded a net inflow of $197.4 million, ending a nine-week streak of net outflows and signaling a potential return of institutional capital. However, the report added that macroeconomic factors, such as geopolitical instability in the Middle East, could still hinder an uptrend. For a trend reversal, both a stable macro environment and a recovery in demand are necessary. "Whether the seasonal strength of July can overcome macroeconomic uncertainty will be a key point for the market to watch," Bitfinex concluded.