Bitcoin has surged nearly 10% in July, marking its best start for the month in four years, with BTC/USD gaining approximately 9.5%. Despite this positive performance, market analysts caution that the current trend mirrors the 2022 bear market, suggesting a potential downturn in August. In 2022, Bitcoin rose 17% in July but subsequently fell 14% in August and 3% in September. Daan Crypto Trades highlights that Bitcoin's July performance aligns with historical averages, but notes that the third quarter is typically weak, with an average gain of only 6%. He attributes this to declining summer liquidity and trading volume. Meanwhile, on-chain indicators have signaled a potential bear market bottom, yet overall market demand remains tepid. Analysts, including Rekt Capital, suggest Bitcoin could continue its rebound in late July, but warn of a possible correction thereafter, with $70,000 identified as a key resistance level.