The Bitcoin Monthly, an “earnings report” authored by ARK Invest, that details relevant on-chain activity and showcases the openness, transparency, and accessibility of blockchain data.
- Bitcoin closed the month of July up 16.6%, rising from $19,965 to $23,325, its most significant gain since October 2021.
- After breaching its 200-week moving average, falling to the $17,000-$19,000 range, and bouncing off its 2017 all-time-high, bitcoin reclaimed its 4-year trend.
- Market contagion appears to be contained, as deleveraging subsides.
- Uncertainty over Fed policy continues to weigh on bitcoin’s recovery and outlook.