Bitcoin's blues could linger throughout July, but investors are still optimistic about the cryptocurrency in the second half of the year.
July is usually a strong month for bitcoin, which has finished higher for the month in seven of the last 11 years, according to CoinGlass.
"There are always other known potential sources of bitcoin supply from government for example, but it's always uncertain when that's coming to market.
This week, the crypto market was startled when the U.S. and German governments sent large amounts of previously seized bitcoin to exchanges, according to CryptoQuant.
Marion Laboure, senior strategist at Deutsche Bank Research, said growing demand for crypto ETFs will help keep bitcoin's price "elevated" in the months ahead.
Persons:
bitcoin, Zach Pandl, it's, JPMorgan's Nikolaos Panigirtzoglou, Pandl, Trump, Marion Laboure, 21Shares, Michael Bloom
Organizations:
Metrics, Federal, U.S ., Deutsche Bank Research, Solana
Locations:
U.S, Mt