$BTC Bitcoin ‘pausing here for air’ likely, but another July ATH still possible

Galaxy Digital’s Michael Harvey says the most optimistic scenario for Bitcoin is a “continued slow melt-up” through the end of July.

Bitcoin could be in for a brief consolidation phase after its recent surge to new all-time highs — but another leg up before the end of July isn’t off the table, according to Galaxy Digital’s head of franchise trading, Michael Harvey.

“Consolidation around current prices is my base case given the large rally and new ATH,” Harvey told Cointelegraph.

Bitcoin will “trend higher” into the end of 2025

“I do expect BTC to trend higher into the year-end, but pausing here for air would be realistic,” Harvey said, adding:

“I think the best case BTC price into month end is a continued slow melt-up.”

He explained that reaching new highs by the end of this month is the best case scenario and would require ongoing strong inflows into the US-based spot Bitcoin

BTC

$118,286

exchange-traded funds (ETF), continued accumulation by Bitcoin treasury firms, and an aggressive increase in retail demand.#GENIUSAct #BinanceHODLerERA