Share this article
Bitcoin Ends July at Highest Monthly Close Since 2017 Peak
Bitcoin closed July at $11,351, according to Messari.
By Zack Voell
Updated Mar 6, 2023, 3:12 p.m. Published Aug 1, 2020, 12:01 a.m.
Make us preferred on Google
Bitcoin closed the month of July at $11,351, its highest monthly close since the bellwether cryptocurrency’s all-time high nearly two-and-a-half years ago.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Prior to this month, bitcoin had closed below $11,000 every month since nearly reaching $20,000 in December 2017.
- Bitcoin futures on CME closed July at $11,620.
- Bitcoin gained 24% in July, according to Messari, a relief to bullish traders after a 3% loss in June.
- Bitcoin’s investor base is “highly favorable” for a continued move up, said Yan Liberman, former associate at Deutsche Bank and co-founder of Delphi Digital.
- “The supply on exchanges is close to 12-month lows,” said Liberman, who said this signals a strong commitment to hold bitcoins for the long term. The percent of bitcoin’s supply that has not moved in the past year is at all-time highs, he added.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
Top Stories
