Summary
- Matrixport analyzed that there is a high possibility of Bitcoin’s upward trend weakening in June.
- According to the report, Bitcoin’s average return in June is only 1.9%, and it fell by 7.1% in June last year.
- On-chain indicators and price movements were cited as reasons for Matrixport’s cautious stance on Bitcoin’s rally.
An analysis has emerged suggesting that the upward trend of Bitcoin (BTC) is likely to weaken in June.
On the 2nd (local time), Matrixport stated in a report, "Historically, June has been a disappointing month in terms of performance," and "Bitcoin's average return is only 1.9%." It continued, "Last year as well, Bitcoin fell by 7.1% in June, then rebounded slightly in July," adding, "Current on-chain indicators and price movements support this. We remain cautious about Bitcoin's rally."
As of 4:07 p.m., Bitcoin is trading at $105,293 on the Binance USDT market, up 1.04% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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