Bitcoin Closes June at Record $107,000, 9% Rally Predicted for July

Bitcoin concluded the month of June with a record-breaking close, reaching just over $107,000, marking its highest monthly closing price to date. This significant milestone has sparked optimism among analysts, with some predicting a potential 9% rally for the cryptocurrency in the following month of July. The surge in Bitcoin's value reflects growing investor confidence and interest in the digital currency, as it continues to solidify its position as a leading asset in the financial market. The record close not only underscores Bitcoin's resilience but also highlights its potential for further growth, as analysts remain bullish on its prospects. The cryptocurrency's performance in June has set a strong precedent for the remainder of the year, with many investors and analysts closely monitoring its trajectory.

Bitcoin’s previous highest month was May, with a monthly candle closure around $104,600, followed by January, when it closed the month at around $102,450. The past three months have also seen consecutive green candles as the asset recovered from its April dip to $75,000. All three record six-figure monthly candle highs have been in 2025, and the next nearest was in November 2024 when it closed at around $96,500, clocking more than $26,000 in gains over the period after US President Donald Trump’s election win.

The record close comes despite June’s candle forming a “spinning top” pattern with a small body and long upper and lower wicks. This formation suggests that neither buyers nor sellers gained control, often signaling a potential reversal in the price trend. The last similar green spinning top monthly candle occurred almost a year ago in July 2024, and was followed by a red “hammer” candle and a decline of 8.6% the following month when BTC dropped to $59,000.

Despite this, 10x Research’s head of research, Markus Thielen, told Cointelegraph that historical analysis suggests a high probability of a 9% rally for Bitcoin in July. “The month has consistently been strong for US equities, which are expected to continue their upward momentum, and Bitcoin tends to follow suit.” In seven of the past 10 Julys, Bitcoin has posted positive returns, with the average gain around 9%, he said before adding that even in the few years with negative performance, the declines were “modest” and stayed in single digits. “This seasonal trend sets a favorable backdrop for a potential move higher.”

Analyst “Rekt Capital” took a look at the weekly candle close on Monday, observing that it closed below the “final major weekly resistance,” which was at $108,890. The weekly candle closed at $108,380 on Coinbase, according to TradingView. They added that a “possible early-stage lower high resistance” may be developing at current price levels. Bitcoin will need to reclaim the weekly resistance as support on the daily to invalidate this lower high, the analyst said.

Bitcoin prices have dipped 2% over the past 24 hours, falling to just below $107,000 at the time of writing. However, the asset has remained tightly rangebound at this level for the past week. The cryptocurrency's performance in June has set a strong precedent for the remainder of the year, with many investors and analysts closely monitoring its trajectory. The record close not only underscores Bitcoin's resilience but also highlights its potential for further growth, as analysts remain bullish on its prospects. The surge in Bitcoin's value reflects growing investor confidence and interest in the digital currency, as it continues to solidify its position as a leading asset in the financial market.