• Bitcoin (CRYPTO:BTC) has rebounded from about US$57,700 to above US$64,000 this month.
• CryptoQuant said stronger seasonal demand and improving market activity are supporting the recovery.
• The firm said the market remains bearish and stronger demand is needed for a lasting rally.

Bitcoin (CRYPTO:BTC) has climbed from about US$57,700 to above US$64,000, with CryptoQuant saying July’s seasonal strength is helping the recovery.

CryptoQuant said July has often been Bitcoin’s strongest month during bear markets, with gains of 20% in 2018 and 17% in 2022.

“A move back into positive territory would confirm that the demand engine is re-igniting,” CryptoQuant analysts said.

The firm said Bitcoin demand has improved after falling sharply in June,…