Bitcoin closed July with a new all-time high monthly close at approximately $115,800, marking the strongest monthly finish in its 16-year history.
The record was set on major exchanges, including Coinbase, reflecting broad market consensus despite recent economic turbulence and global tariff developments.
Price retraces after record close
The bullish momentum did not carry into August.
In the first 48 hours of the month, bitcoin price dropped 4.12% to around $113,000, its lowest in three weeks.
This decline triggered $231 million in long liquidations, according to CoinGlass.
Analysts noted that the dip was more of a technical correction than a panic-driven selloff, citing ongoing macroeconomic uncertainty following new U.S. tariffs signed by President Donald Trump in late July.
Market resilience amid volatility
Despite a major whale selloff of 80,000 BTC on exchanges, the market demonstrated significant resilience.
Analysts say the ability to absorb such large sales without a steeper crash signals strong demand from buyers waiting on the sidelines.
The majority of bitcoin holders remain in profit, with 96% of coins in the green, indicating that long-term investors are continuing to hold, even as short-term traders take profits.
August outlook and halving cycle effects
Historically, August has been a challenging month for bitcoin, with median returns of -8.3% since 2011.
However, analysts note that Augusts following bitcoin halving years—most recently in 2013, 2017, and 2021—have produced strong gains.
With 2025 being a post-halving year, some market watchers are optimistic about another potential rally. Analyst Mags highlighted a bullish technical setup, stating:
“It’s just a matter of time before Bitcoin price goes vertical.”
While the short-term trend may remain choppy, the long-term outlook among analysts and holders remains positive.
