Bitcoin Analysts Highlight Key Factors To Watch As July Winds Down
Bitcoin traders have several important developments to watch as July comes to a close.
Bitcoin analysts singled out crucial developments that market observers should monitor as July, which has been a big month for the crypto industry, comes to a close.
This month coincided with many important regulatory developments, including legislative progress where the U.S. House of Representatives approved three separate bills involving digital currencies and President Donald Trump signed one of them, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), into law.
The world’s most prominent digital currency reached an all-time high of more than $122,000 roughly halfway through July, and has been trading primarily between $115,000 and $120,000 since then, according to Coinbase data from TradingView.
The cryptocurrency has been consolidating recently, a development that multiple experts highlighted in their commentary.
“Bitcoin remains in a consolidation phase just below $120K, with traders watching for a breakout above resistance or a pullback to support near $114K,” Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email.
“Key catalysts include ongoing ETF inflows, rising corporate treasury allocations, and pending regulatory developments like the CLARITY Act. As we close out the month, macro liquidity trends and further signals from U.S. policymakers could dictate short-term momentum,” he added.
Tom Bruni, editor-in-chief & VP of community at Stocktwits, also weighed in on this matter, stating via email that bitcoin has been “Consolidating tightly between $115,500 and $120,500 over the past two weeks. Given the broader trend is to the upside, bulls expect this consolidation to resolve higher and target roughly $140,000."
“If this consolidation resolves lower by closing below $115,500, that would suggest the short-term momentum in Bitcoin has been lost and that a retest of the $105 to $110,000 range is likely,” he added.
“All eyes are on the FOMC meeting on Wednesday and the remainder of the ‘Magnificent Seven’ earnings on Wednesday and Thursday to set the tone for the market through August and into September,” Bruni concluded.
Doug Colkitt, a founding contributor at Fogo, took a different tack, focusing on how vulnerable the markets are to notable movements either upward or downward.
“The market’s at an inflection point. Volatility is compressing, leverage is building, and the order books are getting thinner across major venues,” he stated.
“That’s a classic setup for a sharp move in either direction,” Colkitt continued.
“From a structure standpoint, keep an eye on open interest across perp markets and funding rates. If those flip hard, we could be looking at a classic liquidation cascade,” he added.
“But if spot ETF demand holds steady, any dip might get aggressively bought,” Colkitt noted.
When looking at key developments toward the end of this month, policy updates will be crucial, noted the YouTuber who goes by Wendy O.
“As of right now, Bitcoin is currently having a little pullback which means number is going down but this past Sunday we had the highest Bitcoin weekly close ever at around $119,000,” she stated.
“We also are expected to get some updates regarding the White House’s Crypto policy on July 30 along with a decision from the Fed regarding rates, which could cause some upward price action as this may be interpreted by the market as positive fundamentals,” the analyst added.
Douro Labs CEO Mike Cahill also offered this perspective, indicating that “As we wrap up the month, institutional flows are going to be a key signal to watch.”
“Bitcoin is increasingly trading like a macro asset, so investors should pay close attention to real-world rate expectations, ETF inflows, and post-earnings positioning in risk markets,” he emphasized.
“The bigger picture here is that Bitcoin has officially become part of the traditional portfolio allocation conversation. As more institutions look to balance exposure between cash, equities, and digital assets, Bitcoin’s price will respond accordingly,” Cahill predicted.
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