BITCOIN MAKES HISTORY!
July Closes at Historical High of $115,644 Despite a Massive Sell-off of $9 Billion
Demonstrating Its Unbreakable Resilience Against Macro Pressure?
#bitcoin has marked an impressive milestone, closing the month of July at $115,644, which represents the highest monthly close in its 16-year history, despite having faced a recent decline.
Market Resilience: The Bitcoin market quickly absorbed a gigantic sell-off of 80,000 #BTC (equivalent to $9 billion dollars) by an "OG whale" (Old Guard) throughout the month. This is a "reflection of market resilience and its growing maturity," according to Rachael Lucas, cryptocurrency analyst at BTC Markets.
Solid Buyer Base: Lucas emphasizes that this recovery demonstrates a "solid base of buyers willing to enter," underscoring the "sustained confidence in Bitcoin as an asset" and its ability to stand firm amid macroeconomic uncertainty and increasing institutional participation.
Short-Term Warnings: However, Nick Ruck, head of research at LVRG, warns about the continued short-term selling pressure. This is due to ETF outflows, concerns about Federal Reserve policy, and tariff issues driven by the Trump administration. Despite these pressures, Ruck still anticipates a rebound towards the end of August.
Long-Term Strength: Despite short-term volatility, analysts reiterate the long-term strength of Bitcoin as a scarce, decentralized financial asset that is becoming increasingly relevant in the global landscape.
