Bitcoin ended June on a historic note, marking its highest-ever monthly close at just over $107,000, according to fresh analysis from 10X Research.
June’s close eclipsed previous records set in May ($104,600) and January ($102,450), solidifying 2025 as a banner year for six-figure monthly candles. The streak follows a sharp rebound from Bitcoin’s April lows of $75,000.
Even November 2024’s post-election surge now trails far behind, when Bitcoin finished the month near $96,500. Since then, the asset has added over $26,000 in value, buoyed by renewed institutional demand and optimism over policy tailwinds under President Donald Trump.
Spinning Top Pattern Sparks Debate on Near-Term Direction
Despite the bullish close, June’s candle formed a spinning top pattern, characterized by a small body and long wicks both above and below.
This classic candlestick formation signals market indecision, often appearing before trend reversals. A similar setup last July preceded an 8.6% decline when Bitcoin fell to $59,000 the following month.
Still, 10X Research’s Head of Research Markus Thielen told reporters he expects a continuation to the upside in July.
“Historically, July is a strong month for U.S. equities, and Bitcoin has tended to track risk-on sentiment,” Thielen said.
He added that in seven of the past ten Julys, Bitcoin delivered positive returns averaging about 9%, while even losing months saw only modest pullbacks.
Resistance Levels Loom as Analysts Watch for Breakout
Technical analysts remain cautious on short-term resistance. Prominent trader Rekt Capital highlighted that Bitcoin’s weekly candle closed below the key threshold of $108,890, which is considered the final major weekly resistance before new price discovery.
On Monday, the weekly candle settled at $108,380 on Coinbase, just under that resistance line.
Rekt Capital warned that the current setup could be an early-stage lower high, which would likely cap upside unless Bitcoin reclaims resistance as fresh support on the daily chart.
At press time, Bitcoin was hovering just under $107,000, stuck in a narrow range that has defined the past week.
Quick Facts
- Bitcoin closed June at an all-time monthly high of $107,000.
- A spinning top candlestick pattern hints at possible near-term indecision.
- Analysts project a 9% average July rally based on historical trends.
- Key weekly resistance remains at $108,890, with bulls aiming for a breakout.
