Bitcoin Surges 9.1% in July, Hits New All-Time High

Matrixport, a prominent digital assets financial services platform, released a daily analysis on July 14, highlighting that Bitcoin had reached a new all-time high. This prediction was made on July 1, when Matrixport anticipated that Bitcoin could surge to $117,244, driven by a strong seasonal trend in July. Historically, Bitcoin has shown an average increase of 9.1% during this month, with positive returns recorded in seven out of the past ten July periods.

Several catalytic factors have contributed to this bullish trend. Firstly, the U.S. stock market hitting an all-time high has created a favorable macro environment for risk assets, including Bitcoin. Secondly, the increasing pressure from former U.S. President Trump on the Federal Reserve to implement accommodative monetary policies has further fueled the bullish sentiment. Lastly, the passage of the "Big and Beautiful Bill," which raises the debt ceiling, has provided additional support to the market.

These factors, combined with the robust seasonal trend, have created an extremely bullish macro environment for Bitcoin. The cryptocurrency's price surge aligns perfectly with Matrixport's previous prediction, indicating that the uptrend may have more room to grow. The future of Bitcoin looks promising, with the potential for further price appreciation as more catalysts emerge.