Potential Major Bitcoin Decline in July if Historical Patterns Repeat: Experts

Bitcoin has slipped nearly 10% from its record high, briefly dipping back into five figures during late weekend trading, and analysts expect this trend to continue into July. Market analyst Benjamin Cowen predicts Bitcoin will begin to show weakness around mid-June due to Q3 weakness, a pattern observed in previous years.

Significant declines in Bitcoin have been recorded in June and July, leading to a bearish Q3 before a late Q4 surge in bull market years. Should history repeat itself, Bitcoin could fall around 30% from June’s high of $110,000 to below $80,000 by the end of July. Meanwhile, Bitcoin closed the week below the crucial $104,400 level, with analyst 'Rekt Capital' noting the asset is on the verge of potentially breaking down.