Jonathan Gray
Bitcoin has just closed out its best month ever, ending July at around $115,800. Despite market volatility, tariffs, and investor uncertainty, the world’s largest digital asset held strong until the first day of August.
Closing July at $115,800 on Coinbase, bitcoin price set a new all-time high for a monthly close in its 16-year history. According to TradingView, other platforms showed similar numbers with slight variations. It’s a big deal for bitcoin, especially after a wild few weeks.
The trend, however, did not persist going into August. In the past 48 hours, the price witnessed a sharp decline, dropping 4.12% to around $113,000.
Analysts believe bitcoin closing this month at an all-time is a testament to its market’s resilience and maturation.
One of the big headlines this month was the selloff of 80,000 BTC on exchanges. Despite major whale activity such as that, the market bounced back. This may show strong buyers are waiting in the market for the right price to boost their holdings.
Bitcoin did this all while the world was in economic uncertainty. In late July, U.S. President Donald Trump signed a broad tariff executive order, raising tariffs on several countries including Canada, Taiwan and Switzerland.
This sent ripples through traditional markets which spilled into the digital asset markets as well.
As a result, bitcoin dipped. Bitcoin price fell to around $113,000 – its lowest in three weeks – and triggered $231 million in long liquidations, according to CoinGlass. But analysts said this was more of a cooling off than a panic selloff.
Analysts believe it’s more like a temporary correction rather than a major long-term trend reversal, reflecting a mix of tariff fears and broader macroeconomic uncertainty. Many say bitcoin’s long-term positioning remains strong.
Now that July is in the books, all eyes are on August – a month with a mixed record. Historically, August has been one of bitcoin’s worst months. Between 2011 and 2025, median returns are -8.3% with drawdowns sometimes reaching 20%.
But analysts aren’t ruling out big gains. Augusts after bitcoin halving years – 2013, 2017 and 2021 – saw 30%, 65% and 14% returns respectively. With 2025 being a post-halving year, some are hopeful.
“If history repeats itself, get ready for a strong August,” said analyst Crypto B. Alpha Finder agreed, saying past-halving cycles have brought big August gains.
One popular analyst, Mags, is looking for a big move up. He pointed to a bullish inverse head-and-shoulders on the weekly chart and is targeting $172,000, a 50% move from here. “It’s just a matter of time before Bitcoin price goes vertical,” he posted.
While the long-term outlook is still bullish, short-term price action could be choppy.
Despite the temporary cool down, 96% of bitcoin held by investors is still in profit, which shows that long-term holders are still holding steady, while short-term holders are selling.
