CoinDesk reported:
“On one side, the bulls are waiting for further signals for the Bitcoin ETF SEC decision in August and positioning for the 2024 halving,” Adrian Wang, CEO of Metalpha, told CoinDesk. “On the other side, a lot of profit-takings can occur when the spot is above 30k, while the bears are positioning for another potential drop before 2024 halving, similar to what happened in 2019.”