Bitcoin survived July’s biggest shocks: What’s next?

Bitcoin managed to finish July up nearly 8 percent. BTC defied rate-hike fears, the AI-driven sell-off and a major exchange security breach. However, traders are now waiting on cues from the jobs data and a potential return of spot Bitcoin exchange-traded funds. The OG crypto price is still down by more than 28% year to date (YTD).

Bitcoin price dropped by almost 3% on the last day of July 2026. The drawdown was insufficient to derail the rally. Analysts attributed the lack of leveraged exposure on the derivatives markets after a selloff in late June, which saw the price fall below $58,000 and trigger large liquidations of leveraged positions. This, they argued, made the markets less vulnerable to further declines as the Federal Reserve began its rate-hike cycle.

Did Bitcoin avoid a deeper selloff?

According to the report, the average daily liquidations since early July remained well below the peak of $400 million to $000 million recorded at various points through the year. “Crypto fell less than levered equity themes because the forced-selling fuel was already spent,” the analysts wrote.

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