According to @FarsideUK, Bitcoin (BTC) is showing resilience and has entered July with positive historical momentum, as the month has seen an average gain of 7% over the past decade, according to CoinGlass data. Market maker Wintermute also notes that July historically combines strong gains with subdued investor sentiment. This bullish outlook is supported by a surge in institutional adoption, with publicly listed firms increasing their BTC holdings by 18% in the second quarter, outpacing the 8% growth in U.S. spot ETF holdings. However, traders should remain cautious due to several factors. The derivatives market indicates indifference, with flat open interest for BTC and ETH futures, while XRP open interest signals bearish bets, according to the data. Additionally, significant upcoming token unlocks for assets like Ethena (ENA), Aptos (APT), and Arbitrum (ARB) could introduce selling pressure on the broader altcoin market. Key macro events to watch include the upcoming U.S. payrolls report, which could influence the Federal Reserve's policy decisions.