Analysis: Bitcoin could reach $120K in July

In a recent update on X, crypto services provider Matrixport suggested that Bitcoin (BTC) could surge to $120,000 as early as this month. Despite strong ETF inflows and sustained institutional accumulation, BTC has largely remained range-bound. However, its volatility has dropped to multi-year lows, signaling increased market maturity and potentially setting the stage for a breakout. Historically, July is a strong month for BTC, with an average return of 9.1%. If seasonal trends hold and capital inflows continue to build, Matrixport believes BTC could break past key resistance levels, with upside potential between $116,000 and $120,000.