Bitcoin traders anticipate one of its best-performing months, as historical data favors solid risk-asset returns over July . The latest BTC price forecasts see BTC/USD copying US stock markets to enjoy fresh gains over the coming month .
The S&P 500, or the Standard and Poor's 500, is a U.S. stock market index based on the market capitalizations of 500 of the largest companies having common stock listed on the NYSE and NASDAQ stock exchanges . It is one of the most commonly followed equity indexes, and it is a fair representation of the value of the U.S. stock market as a whole .
In June, Bitcoin concluded a strong second quarter, with gains exceeding 30% . Bitcoin was hovering around $108,000 on Monday after rallying 7.32% over the past week . The bullish sentiment is further supported by robust institutional interest, as US-listed spot Bitcoin Exchange Traded Funds (ETFs) recorded $2.22 billion in weekly inflows, the highest level since late May .
According to Bitcoin's historical data, BTC generally yielded a positive return for traders in July, with an average gain of 7.56% . If the ETFs' demand continues to strengthen and tariffs and geopolitical uncertainty ease, traders could see positive returns in July .
Matrixport, a leading digital asset financial services platform, has projected that the price of Bitcoin is poised to reach $116,000 by July . This forecast is grounded in historical data, which indicates that July has been a favorable month for Bitcoin, with the cryptocurrency experiencing notable gains in seven out of the past ten years . The average gain during these periods has been 9.1%, with five of those years seeing double-digit increases .
Despite the optimism, BTC/USD began July in a lackluster style, dropping to month-to-date lows under $106,500 .
At present, Bitcoin's correlation with the S&P 500 stands at 82%, meaning the two assets have moved in similar directions . This trend has held for the past four weeks .