Bitcoin Pulls Back After Record Monthly Close — What’s Next?

Bitcoin gave back some gains after hitting a record monthly close of around $107,200 in June. As of July 1, BTC trades near $106,175, down ~1% amid tech market weakness and profit-taking.

Why it happened:

- Profit-taking followed the record close, as traders booked gains

- Tech stocks like Nvidia and Tesla also slid, weighing on crypto

- Altcoins saw steeper drops — SOL, ADA, and AVAX each dropped 5–6%

What to watch:

- Analysts suggest this is a healthy consolidation after strong June performance

- Key support levels to monitor: $104K–$105K zone

- If BTC dips further, it may test $100K, especially if macro sentiment stays weak

🖋️ By Helene Braun | Edited by Stephen Alpher, coindesk

Bitcoin price chart (Messari)

📅 July 2, 2025

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