Bitcoin and Ethereum cemented a strong July, sharply outperforming major equity indexes and commodities after a brutal first half of 2026. Bitcoin advanced between 7% and nearly 10% over the month, while Ethereum surged close to 20%, data from CoinGlass and CoinGecko showed. By contrast, chip stocks tumbled 22%, the Nasdaq 100 dropped 9%, the Russell 2000 fell 3%, and the S&P 500 edged down about 1%. Silver shed 2.64%, and gold was virtually flat with a mere 0.38% gain.
The rally underscored a significant turnaround. Bitcoin entered July near $58,000 after a punishing stretch—losses of more than 10% in January, almost 15% in February, a -3.41% May, and a disastrous -20% June. Ethereum’s first-half performance was equally grim, with Q1 returning -21.26% and Q2 -25.28%. From those depths, Bitcoin climbed to a monthly high near $67,000 before cooling to around $64,000 following the Federal Reserve’s decision to keep interest rates unchanged. Ethereum traveled from roughly $1,500 to briefly touch $1,900, though it remains more than 50% lower than a year ago and 61% below its all-time high.
Despite the buoyancy, historical patterns are injecting caution. CoinGlass data reveals that every August since 2022 has ended with a Bitcoin loss, varying from 6.49% in 2025 to 13.88% in 2022. Some analysts, like Ali Martinez, predict the bear market could persist until October, while traders Pepesso and Crypto Lens anticipate another leg down before a broader recovery in 2027.
