Weather forecasts predict a mid-July heatwave in the UK, with temperatures soaring to 28°C in the southern regions. Meanwhile, the cryptocurrency market sees Bitcoin attracting investor interest with Ether facing significant outflows.
UK Set for Mid-July Heatwave
New weather maps indicate that the UK will experience a 28°C heatwave mid-July. The peak temperature is expected on July 15, predominantly affecting the southern regions, including areas around the South Downs and south of London, where temperatures may reach between 27°C and 28°C. Towns like Canterbury, Dartford, Dover, Swindon, and Reading will see slightly cooler temperatures, ranging from 25°C to 26°C. In the southwest, areas such as Devon and Cornwall will experience temperatures between 17°C and 25°C.
Northern and central England, including cities like Manchester, Liverpool, Birmingham, and Leicester, will have temperatures around 26°C, while Newcastle and Middlesbrough will see slightly cooler conditions at approximately 23°C. Scotland is forecasted to have much cooler weather, with urban areas peaking at 22°C and coastal areas between 13°C and 17°C. Wales is expected to be cooler than England, with coastal temperatures around 16°C and inland regions reaching up to 25°C.
The forecast for July 16 indicates continued high temperatures in the south and southeast, with peaks close to 30°C, while Scottish highlands may drop to 11°C.
The heatwave follows a period of varying weather conditions, with the Met Office noting June as one of the driest months on record despite earlier downpours in April and May. For the latter half of July, mixed warm and wet conditions are anticipated, but exact predictions remain uncertain.
Cryptocurrency Market Update
Bitcoin has seen renewed investor interest as U.S.-listed ETFs recorded nearly $130 million in inflows on the first day of July, following $900 million in outflows over the previous month. Historically, Bitcoin has shown average gains of over 11% in July. Currently, Bitcoin is trading around $62,600, a slight decrease of 0.15% over the last 24 hours, while the CoinDesk 20 Index is down by 0.2%.
Meanwhile, Ether-tracked exchange-traded products (ETPs) saw significant outflows, with investors withdrawing over $120 million in the past two weeks, the highest since August 2022. Despite this, multi-asset and Bitcoin ETPs recorded inflows of $18 million and $10 million, respectively.
The U.S. may soon see the launch of spot Ether ETFs following SEC approvals, with potential net inflows of $5 billion within the first six months. This could improve Ether’s market value relative to Bitcoin. Analysts suggest $65,000 could be a formidable resistance level for Bitcoin, based on current on-chain analysis.
