"End of July, Bitcoin Rises Again"…Galaxy Digital, Record High Rebound Forecast

There is a forecast that Bitcoin can set a new record high by the end of this month after undergoing a short-term correction. Michael Harvey, head of Galaxy Digital Franchise Trading, analyzed in an interview with Cointelegraph that "In the short term, BTC could undergo a correction of about 5-10% due to profit-taking sales and the weak impact of the stock market."

However, he judged that the possibility of a return to an upward trend after the correction is high. Harvey forecasted that “Positive trends such as continuous capital inflow into the Spot Bitcoin ETF, the increase of companies adopting Bitcoin as a financial strategy, and the expansion of individual investors' demand are still valid,” and that “BTC could surpass the previous all-time high by the end of July.”

Despite the recent short-term correction, the supply and demand structure surrounding Bitcoin is still considered solid. The market is watching whether this correction is a breather stage of a full-fledged bull market or a signal of a trend reversal.