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Bitcoin keeps monthly gain as leveraged selling fears ease

BTC is ending July up about 7.5% even after a late-June flush reduced forced-selling activity, and traders are now looking ahead to U.S. jobs data and Fed clarity.

Reported · Written up by our desk · Market Structure

Bitcoin is poised to finish July up roughly 7.5%, despite multiple headwinds that have roiled broader risk markets, CoinDesk reported, noting BTC slipped below $63,000 on Friday and was down about 3% on the day at the time of writing.

Analysts cited by CoinDesk said bitcoin has held up better than equities because much of the leveraged positioning was already flushed out during the late-June selloff that pushed BTC below $58,000 on July 1, reducing the risk of additional forced selling during the latest volatility.

CoinDesk also pointed to trading data, saying average daily liquidations have stayed well below the year’s typical $400 million to $500 million range, suggesting limited forced selling after the macro shock.

Looking ahead, the article said investors are awaiting U.S. jobs data and a clearer Federal Reserve path to determine whether spot bitcoin ETF inflows will resume, while it also flagged the fallout from a Coldcard hardware wallet exploit that led to at least $38 million worth of bitcoin being stolen.

Latest closeBitcoin $62,929.67 ▼2.8%

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