Bitcoin wrapped up June with a historic monthly close, finishing just above $107,000—its highest on record, according to analysis from 10X Research. This bullish milestone hints at further upside, with expectations of a potential 9% increase in July.
Previously, Bitcoin’s strongest monthly closes came in May and January, at approximately $104,600 and $102,450 respectively. June’s performance also marked the third consecutive month of gains for the cryptocurrency, recovering impressively from April’s dip to $75,000.
Each of these record-setting monthly closes occurred in 2025, showing a clear upward trend since the close of November 2024 at around $96,500—a surge driven in part by political events like the U.S. presidential election win of Donald Trump.
Indecision in the Charts
Despite the bullish close, June’s candle formed a “spinning top” pattern, characterized by a small body and long wicks on both ends. This formation generally indicates market indecision, where neither buyers nor sellers dominate—a setup that can often precede a trend reversal.
A similar pattern appeared in July 2024, followed by a red “hammer” candle in August, which saw BTC slide by 8.6% down to $59,000.
Seasonal Strength Could Support Rally
Still, optimism remains. Markus Thielen, head of research at 10X Research, believes there’s a strong chance Bitcoin will post gains in July. Historically, July has been a positive month for both U.S. equities and Bitcoin, with BTC logging an average return of 9% in seven of the last ten Julys. Even during the years with losses, declines were minor and remained in the single-digit range.
“This recurring seasonal pattern could provide a supportive backdrop for further gains,” Thielen noted.
Weekly Close Under Resistance
Meanwhile, analyst Rekt Capital highlighted that Bitcoin’s weekly candle on Monday closed slightly under a critical resistance level at $108,890, finishing the week at $108,380 on Coinbase.
They pointed out the potential formation of a “lower high” resistance, which could stall upward momentum unless Bitcoin reclaims this level as support in the daily chart.
As of now, Bitcoin is hovering just below $107,000, down 2% over the last 24 hours. Despite the slight pullback, price action has remained tightly rangebound at this level throughout the past week.
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