Bitcoin ‘pausing here for air’ likely, but another July ATH still possible
2025-07-19 05:27:21
Main Idea
Galaxy Digital’s Michael Harvey suggests Bitcoin may pause but could still reach another all-time high by July's end, driven by ETF inflows and retail demand, though broader interest remains low.
Key Points
1. Michael Harvey predicts Bitcoin could see a 'continued slow melt-up' through July, potentially reaching new all-time highs.
2. Strong inflows into US-based spot Bitcoin ETFs and increased retail demand are key factors for this optimistic scenario.
3. Bitcoin reached a new all-time high of $122,884 before retracing to $118,098, according to Nansen data.
4. The bear case scenario involves Bitcoin dropping below $110,000 due to profit-taking or equity market weakness.
5. Retail interest indicators, like Coinbase's app ranking, show potential growth, but Google search trends for 'Bitcoin' remain low.
Description
Galaxy Digital’s Michael Harvey says the most optimistic scenario for Bitcoin is a “continued slow melt-up” through the end of July.
Latest News
- XLM's price to rocket like XRP, Trump’s big crypto nod: Hodler’s Digest, July 13 – 192025-07-20 00:18:23
- US Lawmaker sounds alarm on GENIUS bill, says it's a CBDC Trojan Horse2025-07-19 22:30:05
- Macro drivers will dampen Bitcoin’s halving cycle — Tim Draper2025-07-19 20:09:12
- Indian crypto exchange CoinDCX hacked, $44 million drained2025-07-19 16:51:44
- Crypto rules for mortgages must reflect self-custody reality2025-07-19 15:18:12