QCP: In July, BTC's historical average increase is about 7.5%, making it one of the strongest performing months.

Deep Tide TechFlow news, July 6 - According to the latest market report from QCP Capital, BTC started July strongly, in line with historical seasonal patterns - July historically sees an average gain of about 7.5%, making it one of BTC's strongest months. Last Thursday, the U.S. June nonfarm payroll data showed only 57k new jobs, about half of market expectations, and the weaker-than-expected data provided short-term support for the market, driving BTC to rebound from the $58,000 support level.

Meanwhile, implied volatility in the crypto market slightly declined, and the near-term put skew narrowed. There is clear demand for $70,000 call options at the end of July, reflecting that some funds are positioning for the seasonal trend.

However, QCP also highlighted downside risks: some market participants are drawing parallels between the current trend and July 2022 - when BTC briefly reclaimed the 200-week moving average before declining again in August and finally bottoming out in October. The strong demand for year-end $58,000 put options also confirms that caution still persists in the market. QCP noted that if BTC can effectively hold above $64,000 this week, it would further boost market confidence.