Bitcoin’s sitting near two-week highs heading into the weekly close. Some traders are feeling it. Others? Not so much.
BTC pushed to $63,450 on Saturday, thanks to thinner order books and a US holiday weekend. That’s its highest mark in nearly 14 days. But here’s the thing: the last seven Mondays have been “absolutely terrible” for Bitcoin, according to trader Killa. Seven out of seven. That’s not a coincidence.
Daan Crypto Trades pointed out the short squeeze playing out — price grinding higher into levels where everyone’s shorting, forcing covering. Now the question is whether $62.6K (the 200-week moving average) holds or if this was just liquidity cleanup before another rollover.
On the bright side, there are signals that might shift the momentum. QCP Capital’s latest analysis flags renewed inflows into US spot Bitcoin ETFs — $224 million on Thursday alone, snapping a six-session outflow streak. That’s the first positive print in over a week, after roughly $2.4 billion in redemptions. Dip buyers are stepping back in.
Friday’s weaker-than-expected US nonfarm payrolls report helped too. It softened expectations for Fed rate hikes. CME’s FedWatch Tool now shows nearly 80% odds of rates holding steady at the July 29 meeting. QCP says a friendly CPI print before then could confirm the dovish repricing.
Does that fix the Monday problem? Not necessarily. But it’s a start.
