Bitcoin Ends July Up 7.5% as Analysts Warn of a Choppy August Ahead

Bitcoin closed out July with roughly a 7.5% gain despite a wave of setbacks, including rising rate hike expectations, climbing bond yields, an AI market selloff, and a major hardware wallet security breach.

Price Slips but Monthly Trend Holds Firm

Bitcoin fell below $63,000 in last 24 hours, down about 3% for the day, yet still finished the month with solid gains. Analysts noted the cryptocurrency avoided a deeper decline that many had feared, staying above its bear market lows even as broader risk appetite cooled.

Resilience Linked to Lighter Leverage

According to analysts, crypto entered the recent Fed meeting with far less leverage than equities, since derivatives traders were largely cleared out during a selloff in late June that pushed bitcoin below $58,000. Since then, daily liquidations have stayed well under the typical $400 million to $500 million range seen earlier this year, suggesting limited forced selling despite ongoing macro pressure.

Security Breach and Macro Uncertainty Weigh on Outlook

The market is also still processing the fallout from a Coldcard hardware wallet exploit that resulted in at least $38 million in stolen bitcoin.Bitfinex analysts said investor positioning is likely to stay defensive heading into next week’s US jobs report, while some expects a choppy, range bound August unless real yields fall or ETF inflows turn consistently positive again.