Bitcoin closed July at $115,768, marking its first monthly close at this level in its 16-year history. Although the world’s largest cryptocurrency fell 2.34% in the last 24 hours, the close was a record.
Bitcoin Hits All-Time Monthly Close at $115,768
“Bitcoin closing this month at an all-time high isn’t just a headline; it’s a testament to the market’s resilience and maturation,” said Rachael Lucas, crypto analyst at BTC Markets.
Lucas noted that despite the large 80,000 BTC transfer to Galaxy Digital in July and the subsequent sell-off, the price remained stable. While this sell-off caused a brief 4% drop in Bitcoin, the market quickly absorbed the impact.
“This level of recovery shows that a strong buyer base has formed in the market that trusts Bitcoin,” Lucas said, emphasizing that Bitcoin remains resilient despite macroeconomic uncertainties during this period of increasing institutional interest.
On the other hand, LVRG Research Director Nick Ruck stated that investors can realize profits, and this will depend on the policies of the US Federal Reserve (Fed), Trump’s possible tariffs and ETF fund flows.
Spot Bitcoin ETFs have experienced outflows in recent days, with the strong inflows of the first half of July seemingly giving way to weaker net flows. However, Ruck stated that the current decline is temporary and that he expects a recovery in August.
Lucas emphasized that Bitcoin is in a strong position in the long term: “Bitcoin is increasingly adopted as a scarce, decentralized asset, and its role in the global financial system is strengthening.”
*This is not investment advice.