Bitcoin’s pushing its highest levels in two weeks, hitting $63,960 at the weekly close. That’s the best since June 23. But bulls need to push past $65,000 for a real trend change.
Trader Killa put it bluntly: the zone between $60,400 and $60,900 is the “most important” support to hold. If BTC revisits that level and can’t hold it, expect a trip back to the lows.
Exchange data offers a bit of relief. Whale inflows to Binance dropped 34% since mid-June. Retail selling cooled too. The panic’s easing.
Retail risk appetite is at record levels, according to The Kobeissi Letter. Short-term options demand has never been higher. That’s a double-edged sword — enthusiasm can flip fast.
Not everyone’s convinced the stock rally lasts. Bitwise’s Andre Dragosch flagged a macro equity risk model flashing a bear market warning. His take? Crypto may have already priced in the worst — a stock correction and US recession. If he’s right, Bitcoin’s downside from here is limited.
The Fed’s June meeting minutes drop this week. PMI numbers and more employment data too. It’s going to be a volatile stretch as earnings season approaches.
Bottom line: BTC held the line at the close. $60,400 is the floor to watch. Above $65,000 changes the picture entirely.
