PANews reported on July 14 that Matrixport data showed that Bitcoin has recorded an increase in July 7 times in the past 10 years, with an average increase of 9.1%. Previous analysis pointed out that Bitcoin may rise to $117,244 due to seasonal factors. Although the market is cautious about the summer market, historical data shows that signs of a breakthrough have already appeared and pushed prices to a new record high.

The current upward trend of Bitcoin is affected by multiple macro factors, including the strengthening of US stocks boosting market confidence, Trump's continued pressure on the Federal Reserve, and the approval of the bill to increase the fiscal deficit ceiling, which has intensified the market's expectations for the release of liquidity. Judging from the current market performance, the market is gradually confirming previous predictions.