Ethereum sees first monthly consecutive losses since August 2023 amid new ETFs
As July comes to a close, Bitcoin has finished approximately 6% higher, hovering around $66,000, nearly offsetting June’s 7% drop. In 2024, Bitcoin experienced five positive months and two negative ones. Looking ahead to August, Bitcoin has historically averaged a 2.7% gain since 2013, though it has fallen between 11% and 13% in the past two years. However, the real excitement lies in Q4, where October, November, and December have historically seen impressive average gains of 23%, 47%, and 5% respectively, according to Coinglass.
Bitcoin Monthly Returns: (Source: Coinglass)
Ethereum
Coinglass data shows that Ethereum experienced a roughly 3.5% decline in July, marking the first consecutive back-to-back negative months since July and August 2023. Notably, July also saw the launch of Ethereum ETFs. Historically, Ethereum performs better in the first half of the year, with double-digit growth from January to May. This trend suggests that as we move into the latter stages of the year, Bitcoin, based on historical performance, is expected to outperform Ethereum.
Ethereum Monthly Returns: (Source: Coinglass)
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