Bitcoin (BTC) completed July at $115,644, marking the highest monthly close of all time and maintaining its strong outlook in the market.
The leader of the cryptocurrency markets, Bitcoin (BTC), closed a month at such a high level for the first time in its 16-year history. Despite a temporary decline of 2.34% in the last 24 hours, BTC's strong stance drew attention despite this record.
BTC Markets analyst Rachael Lucas noted that despite the high volatility in July and the movements of large investors (whales), Bitcoin has maintained its resistance. Particularly, despite the transfer of 80,000 BTC to Galaxy Digital and the subsequent sale, BTC quickly recovered from its 4% drop. According to Lucas, this situation indicates the formation of a strong buyer base in the market.
Lucas associated Bitcoin's resistance with the increasing interest from institutional investors in the market and the confidence investors have in crypto assets despite global economic uncertainties.
On the other hand, LVRG Research Director Nick Ruck predicts that Bitcoin's 2% drop could deepen a bit more in the short term due to profit-taking. Ruck emphasized that the policies of the U.S. Federal Reserve, Donald Trump's future tariffs, and ETF fund inflows and outflows will continue to shape investor decisions.
Ruck stated that despite high inflows in July, there have been net outflows in spot Bitcoin ETFs over the past week, yet he believes this decline is temporary and expects Bitcoin to move upwards again in August.
Lucas stated that in terms of long-term positioning, Bitcoin continues to be a strong asset, saying, 'Bitcoin's scarcity, decentralized structure, and increasingly expanding use cases continue to strengthen its importance in the global financial environment.'
