Bitcoin Price Has Never Lost More Than 10% in July — Is 2023 Different?

1. Bitcoin is showing signs of a potential “liquidity hunt” that could push its price to $35,000. This refers to a situation where traders aggressively buy Bitcoin to fill their orders, causing a rapid price increase due to limited supply.

2. However, not everyone is convinced that the upward momentum in Bitcoin’s price will last beyond July. Some experts argue that the current rally is driven by short-term factors such as market manipulation and speculative trading, rather than sustainable long-term demand.

3. The skepticism surrounding Bitcoin’s price upside beyond July is mainly attributed to concerns about regulatory crackdowns, market volatility, and the potential for a market correction. These factors could dampen investor sentiment and lead to a decline in Bitcoin’s price.

In summary, while Bitcoin appears to be on the verge of a liquidity hunt that could propel its price to $35,000, there are doubts about the sustainability of this upward trend. Factors such as regulatory actions, market volatility, and the possibility of a market correction raise concerns about the longevity of Bitcoin’s price surge beyond July.