binancetalks

We closed another month and, looking at the bigger picture, the reading still remains that of a market that’s been weakened within the bear market, moving toward its final phase. But hold that sideways smile: even as the cycle comes to an end, we’ll still go through pullbacks before the next major expansion. July was a strange month—full of tension, but also of surprises.
The backdrop: geopolitics and the economy
July began with a partial ceasefire between the United States and Iran, with Brent falling to around $71–72 after a quarter of strong oil gains. But the calm didn’t last: in the middle of the month, the U.S. revoked trade authorizations for Iranian oil and resumed military attacks, pushing Brent back up to $80. After that, the conflict heated up again near the Bab el-Mandeb Strait, threatening to reach $100 per barrel before cooling down again. It was a constant back-and-forth month in terms of geopolitical risk.