Bitcoin has opened its monthly candle—will it rise in August? Historically, August and September are typically the weakest months for Bitcoin’s annual performance. Currently, both daily and weekly charts do not favor a significant rally unless Bitcoin reclaiming $65,000, which could open the path toward $70,000. The $69,000 level represents the average cost basis for short-term holders (STH)—a major resistance zone. Any rebound to this level will trigger massive unlock selling; without substantial volume to break through here, the primary uptrend cannot begin. This August, we’ll see if $69,000 can be breached, as the probability of a rate hike in September is very high, leaving little room for upside. Due to the deep division within the Fed—nine to three—if August’s economic data shows even a modest rebound, expectations for a September rate hike will surge again, further suppressing liquidity in the crypto market. bitcoin:native