PANews reported on July 1 that according to Matrixport analysis, Bitcoin has recorded increases in July 7 times in the past 10 years, with an average increase of 9.1%. Even in the years of decline, the decline was only in the single digits, and in the years of rise, there were two strong double-digit rebounds.

As July approaches, market bullish sentiment gradually heats up, and historical trends may repeat themselves. Analysts believe that Bitcoin may challenge the $116,000 mark in the coming weeks.