Bitcoin achieved its highest monthly close on record at $115,800 in July, marking a historic milestone for the flagship cryptocurrency. Market analysts suggest the bullish momentum may continue into August, particularly given patterns observed in post-halving market cycles.
Technical strategists note that recent dip attempts below the $115,000 support level have been interpreted as bullish retests rather than reversal signals. This consolidation behavior typically strengthens the foundation for further upward movement in established bull markets.
Historical data reinforces this optimism, as August during post-halving years has previously generated Bitcoin gains between 14% and 65%. Market sentiment remains elevated despite recent volatility triggered by tariff policy shifts in the United States, with Bitcoin’s Fear & Greed Index holding firmly in the ‘greed’ territory at 65.
Several analysts project substantial upside potential based on technical patterns and cyclical trends, identifying a key price target of approximately $172,000 – representing over 50% growth from July’s record settlement price.