Analysis: Bitcoin surged nearly 10% in July, marking best start in four years, but market still fears August could repeat 2022 bear market

CoinFeed July 11 news, according to Cointelegraph, although Bitcoin (BTC) has accumulated a gain of nearly 10% since July, marking the best performance for the same period in nearly four years, multiple market analysts warn that the current trend is highly similar to the 2022 bear market, and the market may weaken again starting from August. Data shows that as of now, BTC/USD has risen about 9.5% this month. Looking back at 2022, Bitcoin rebounded nearly 17% in July, but then fell about 14% and 3% in August and September respectively, disappointing expectations for a continued bull market at the time. Daan Crypto Trades said Bitcoin is currently broadly in line with the historical average July performance, but the third quarter is historically one of the weakest quarters for Bitcoin, with an average gain of only about 6%.