Bitcoin and Ethereum led the market in July, with chip stocks plunging 22%
Bitcoin (BTC) and Ethereum (ETH) are expected to outperform most major asset classes in July. In the past 30 days, Bitcoin has risen more than 7%, and Ethereum has risen nearly 20%.
For the two largest cryptocurrencies, this performance adds momentum to the recovery in July after a difficult period in the first half of 2026. However, historical data shows that August is generally more difficult for Bitcoin.
Bitcoin and Ethereum led July earnings
As of this writing, Ethereum was up 19.5% in July, while Bitcoin was up 7.37%. At the same time, analyst Ash Crypto's comparison of major markets showed chip stocks fell 22% over the same period, with the Nasdaq 100 and Russell 2000 falling 9% and 3%, respectively.
The S & P 500 also fell, but the decline was much smaller than other indices, at about 1%. Silver fell 2.64%, while gold was basically flat, rising only 0.38% in 30 days.
The gains in these cryptocurrencies are remarkable because before July, they had a difficult 2026. CoinGlass data showed that Bitcoin fell more than 10% in January, continuing the downward trend that began in October 2025. The decline continued into February, when the original cryptocurrency lost nearly 15%, before easing in March and April. A return of-3.41% was recorded in May, and June recorded the largest decline so far this year, with a loss of more than 20% in asset value.
Ethereum performed equally poorly in the first two quarters, with a return of-21.26% in the first quarter and-25.28% in the second quarter.
Looking back, Bitcoin traded close to US$58,000 in early July, but gradually climbed, hitting a monthly high of around US$67,000 last week, before the price trend began to cool down. The situation is similar for Ethereum, with CoinGecko data showing that Ethereum prices were close to $1,500 at the beginning of the month and eventually close to $2,000 towards the end of July.
As of this writing, the world's second-largest cryptocurrency is trading at just above US$1,900, down about 1% in the past seven days. However, despite the good monthly performance, its prices are still more than 50% lower than a year ago and about 61% lower than the all-time high in August 2025. On the bitcoin side, after small fluctuations caused by the Federal Reserve's decision to keep interest rates unchanged subsided yesterday, its price has stabilized at around $64,000, almost half its all-time high.
August historical records keep traders cautious
While July provided a respite for cryptocurrency investors, CoinGlass's data points to a recurring seasonal pattern. Since 2022, Bitcoin has ended with a monthly loss in August every year, including a decline of 6.49% in 2025, an 8.6% in 2024, an 11.29% in 2023, and a decline of 13.88% in 2022.
This background has caused analysts to have different views on the market outlook. Ali Martinez predicts that the bear market for Bitcoin could last into October, while traders Pepesso and Crypto Lens expect Bitcoin to fall further before a broader recovery begins in 2027.

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