Bitcoin ended July stronger than it began, rising from $107K to $117K and reaching an all-time high of $122,838 mid-month. The rally was fueled by $4.4B in ETF inflows, regulatory clarity from the GENIUS and Clarity Acts, and strong corporate demand. Despite a large 80,000 BTC sale, the market remained stable above $115K, signalling maturity and deep liquidity.
Mining revenues peaked on 25 July but declined sharply by month-end. Hashrate stayed above 900 EH/s for most of the month, while miner prices held steady. Industry leaders and analysts attributed Bitcoin’s strength to growing institutional legitimacy and strategic adoption.
2.1 Bitcoin Price
Bitcoin started July at $107,632 and moved steadily upwards in the first ten days. On 11 July, it broke out sharply to $118,745, followed by a historic all-time high of $122,838 on 14 July. This marked a significant milestone for the asset and reflected strong market confidence.
After reaching the peak, the price pulled back to $115,793 on 15 July, a healthy correction rather than a reversal. From mid-July onwards, Bitcoin stabilised between $114,000 and $118,000, holding above key support levels. It briefly reached $118,240 again on 23 July, confirming resilience after the high, finally the month closed at $118,468, with Bitcoin maintaining strength well above its breakout range.
In July, Bitcoin rose from roughly $107K to close near $117K, led by confirmed institutional inflows. Spot Bitcoin ETFs brought in over $4.4 billion, including $1.18 billion in a single session mid-month, tightening available supply. On 18 July, the U.S. passed the GENIUS Act and concurrently advanced the Clarity Act, providing more straightforward guidelines for digital assets and boosting institutional confidence. Shortly after, on July 29th, the SEC permitted in-kind redemptions for digital ETFs, enhancing liquidity mechanisms common in commodity markets.
Despite a notable $9 billion sale of 80,000 BTC from a long-dormant wallet via Galaxy Digital, the market absorbed it with minimal impact, demonstrating robust depth and liquidity above $115K levels.
Corporate treasury demand also rose, with firms adding Bitcoin as a strategic asset, further reducing supply and reinforcing price support.
The Crypto Fear and Greed Index for July 2025 remained in the Greed zone, ending the month at 72. This reflects a slight decline from 74 the day before, with the monthly low at 64 and a peak of 74 near month-end.
The month began with a substantial baseline hashrate, remaining above 900 EH/s from mid-July onwards. On 19 July, a spike was recorded at 1.0033 ZH/s, marking a temporary peak before settling back into the 860–960 EH/s range.
Between 21 and 27 July, the hashrate showed high consistency, ranging from 920.3 EH/s to 961.3 EH/s, with only minor fluctuations. It held close to 930 EH/s on 23 July, dipped slightly on 25 July to 898.1 EH/s, and rose again to 961.3 EH/s by 27 July.
In the final days of the month, the rate dipped modestly to 863.2 EH/s on 29 July, closing the period with a stable reading, the month closed with a reading of 840 EH/s, rounding off a generally stable period.
Bitcoin miner revenue in July 2025 followed a volatile pattern, marked by a mid-month surge followed by a steady decline in the final stretch.
The month peaked early, with revenue hitting $55.14M on July 19, rising further to $55.84M on July 21. Increased transaction volumes and fee activity likely supported these elevated levels around the weekend.
By July 23, revenue had softened to $52.37M, before jumping to the monthly high of $61.02M on July 25. This spike suggests a short burst in network activity or a rise in block rewards, briefly boosting miner profitability.
However, the final days of the month saw a pronounced downturn. Revenue fell to $52.74M on July 27 and then dropped sharply to $44.26M on July 29, the lowest recorded level in the period.
Overall, July displayed a sharp mid-month revenue spike followed by a decisive downtrend, reflecting miners’ exposure to network dynamics and short-term fee pressure.
In July, the average prices in the Bitcoin mining industry (according to ASIC Miner Value) were:
Bitmain Antminer S19j Pro+ (122TH/s)= $2,394
Bitmain Antminer S19 XP Hyd (257TH/s)= $3,018
MicroBT Whatsminer M50S (128Th/s) = $1,584
2.3.1 News
Bitcoin reaches all-time high
Bitcoin mining set to fix France's power oversupply.
Utility is the gateway to Bitcoin adoption.
SEC enables direct Bitcoin withdrawals from ETFs
Institutional Legitimacy Strengthens Market Base: Reuters reported that Bitcoin is no longer seen as a speculative asset. Institutional investors now include it in structured portfolios, treating it similarly to commodities like gold. This growing legitimacy has supported its stability despite short-term volatility.
Policy Signals Boost Confidence: Analyst Tony Sycamore from IG, who linked Bitcoin’s strong July performance to investor expectations around US digital asset regulations. The perception that upcoming policies will favour digital assets increased investor confidence, especially among US-based funds.
Bitcoin on Corporate Balance Sheets: Brokerage firm Bernstein observed that more public companies are beginning to allocate Bitcoin as a treasury asset. This move is driven by the asset’s fixed supply and role as a long-term inflation hedge, highlighting strategic adoption beyond trading.
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The contents of this analysis are for informational purposes only and do not constitute investment advice. The study is based on the author's opinions and assumptions and may not reflect the actual state of the market or the future outcomes of any investment. The author is not a financial advisor and assumes no responsibility for the information's accuracy, completeness, or suitability.
Bitcoin investments are subject to high risks and volatility. The prices can fluctuate significantly due to factors such as supply and demand, regulatory actions, technological innovations, security breaches, hacking attacks, market sentiment, and global events.
Investors should be aware of these risks and conduct their diligence before making investment decisions.
