Bitcoin Predicted to Dip to $60K in August

Analyst Andrey Poroshin from Bitbanker predicts that Bitcoin will drop to around $60K in August due to a lack of macroeconomic support and passive Federal Reserve policy.

The price is expected to recover to $70K later, despite this being below the U.S. mining cost, as weak hands exit the market and BitMEX winds down operations.

Geopolitical tensions are easing, reducing market shocks, while September could see more volatility linked to Fed rate decisions and potential crypto legislation like the CLARITY Act.