A repeating summertime classic
July has been a quiet month for BTC, with the market reclaiming levels above $60k before settling into a prolonged period of consolidation. Over the past week, BTC has gained 1%, spending most of the time hovering around $64,000.
Preview
BTC has entered a seasonally quiet summer phase, consolidating around $64k after reclaiming levels above $60k. Trading activity remains subdued across spot and derivatives markets, with CME open interest at its lowest levels since 2023, stable offshore positioning, and continued demand for downside protection in options. This pattern closely mirrors the typical July slowdown, which has historically been the weakest period of the year for BTC trading volumes.Looking ahead, macro developments are likely to be the main catalysts for the market. The ECB and Federal Reserve rate decisions, particularly the July 29 FOMC meeting, will be closely watched, while the escalating conflict between the U.S. an
