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Bitcoin's price logged a gain approaching 10% through the first two weeks of July, but the advance has not quieted trader concern about what comes next.
Analysis in the period draws a direct parallel to the 2022 bear market, with warnings centered on August as the period where the pattern either confirms or breaks.
The July print and the skeptical read A move of nearly 10% over two weeks is the kind of number that earns attention on the tape. The question the analysis raises is whether it earns trust.
On a derivatives desk, gains without a confirmed structural read get filed under "wait and see" rather than "trend change." The analysis circulating among traders reads the July move as a setup that rhymes with 2022.
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