Bitcoin Closes June At Record $107K, Analysts Predict 9% July Surge

     

BTC Logs All-Time Monthly High Despite Indecisive Candle Formation

Bitcoin ended the month of June with a record-high monthly close of $107,100, setting a new all-time high for its monthly candle, according to data from 10X Research.

The previous highest monthly close occurred in May at $104,600, followed by January at $102,450. All three of these six-figure candle closes have taken place in 2025, signaling a sustained recovery since the April dip to $75,000.

November 2024 was the next closest monthly high, closing around $96,500 shortly after Donald Trump’s U.S. election victory. Since then, Bitcoin has gained over $26,000.

Spinning Top Candle Suggests Market Uncertainty

Despite the strong monthly performance, the June candle formed a “spinning top” — a pattern characterized by a small body with long upper and lower wicks. This technical formation indicates a balance between buyers and sellers, and often suggests market indecision or potential trend reversal.

A similar pattern was seen in July 2024, which was followed by an 8.6% correction the next month, with Bitcoin falling to $59,000.

Historical Data Favors 9% Upside In July

Markus Thielen, head of research at 10X Research, said that historical performance suggests a strong possibility of a 9% Bitcoin rally in July.

“July has consistently been strong for U.S. equities, and Bitcoin typically follows,” he noted, citing seven out of the last ten Julys with positive BTC returns and an average monthly gain of 9%.

Even in the years when July returns were negative, the losses remained modest and within single digits, providing a favorable seasonal outlook.

Weekly Close Below Resistance May Signal Weakness

Meanwhile, market analyst Rekt Capital noted that Bitcoin’s weekly candle closed just under a key resistance level of $108,890 — ending at $108,380 on Coinbase, according to TradingView.

The analyst warned that a “potential early-stage lower high resistance” might be forming, and that reclaiming this level as support is critical to avoid a broader pullback.

At the time of writing, Bitcoin had dipped 2% over the past 24 hours, hovering just below $107,000. The asset has remained tightly rangebound in this area throughout the past week.