Bitcoin has completed its highest monthly close in history, ending July at $115,800. This milestone marks a strong continuation of bullish momentum following the most recent halving event, typically a catalyst for major uptrends in Bitcoin price cycles.
Record Monthly Close Signals Strength
After a volatile trading session, Bitcoin settled at $115,800, surpassing previous monthly close records. The move was particularly significant as it occurred despite short-term price dips tied to broader macroeconomic tensions.
A minor pullback to around $115,000 is viewed by many market analysts as a bullish retest of key breakout levels, not a sign of weakness. The asset maintained a monthly gain of over 8%, further strengthening its position for potential upward moves.
This marks the first time Bitcoin has held above $115,000 on a monthly closing basis — a signal of strong institutional and retail confidence.
August Historically Favors Double-Digit Gains
In previous post-halving years, Bitcoin has posted significant returns in August — often ranging between 14% and 65%. Historical performance suggests that the early weeks of August may bring consolidation, with upside acceleration expected later in the month.
Market sentiment remains positive. Despite a 10-point dip in the Crypto Fear & Greed Index, it still resides at 65, firmly in the “greed” zone, suggesting that investors are still optimistic about near-term gains.
Technical Setup Points to $170K Target
Technical analysts are closely watching a confirmed inverse head-and-shoulders formation on the weekly chart. This pattern, historically reliable in signaling upward continuation, projects a potential breakout target near $172,000, a 50% increase from current levels.
If this pattern plays out, Bitcoin could enter a vertical price discovery phase within weeks.
Conclusion
With a record July close, historical halving cycle momentum, and supportive technical structures, Bitcoin appears well-positioned for a major move in August. Traders and investors alike are closely watching for signs of breakout confirmation as the market stabilizes above $115K.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.