Bitcoin Stuck in Range as August Brings Uncertainty

Bitcoin's July performance was marked by a 7.5% gain, but analysts predict that August will be a more challenging month for the cryptocurrency.

According to Bitfinex, investors are likely to maintain defensive positioning and remain on the sidelines until U.S. employment data and the Federal Reserve's policy path become clearer.

Analysts at Bitget Wallet also expect rangebound trading to be the base-case scenario for August, citing a shift back to an uptrend as difficult unless real yields fall or inflows into spot Bitcoin ETFs resume a steady increase.