🚨 $BTC targets the $66,000 zone following Wall Street's opening, fueled by renewed risk-on sentiment following a pause in US-Iran military actions and progress toward reopening the Strait of Hormuz.
The market responded with speed, triggering nearly $250 million in short liquidations over the past 24 hours. While WTI crude oil briefly dipped toward $82 per barrel, the S&P 500 and Nasdaq rose approximately 0.3%. According to QCP Capital, digital assets continue to outperform traditional equities in July (BTC +11.6\% and$ETH +24.6%), supported by institutional momentum around the CLARITY Act.
📊 Technical Outlook & Key Levels:
BTC successfully defended both its 21-day SMA ($64,289) and 50-day SMA ($63,261) into the weekly close. Analysts such as Michaël van de Poppe note that while the market shows strength, holding the $66,000 - $67,000 window over the next 1–3 days will be necessary to confirm sustained buying pressure.
🟢 Bullish Scenario (Higher probability ~60%): A clean break above $66,000 confirms continuation toward the $67,000 - $68,500 resistance target.
🔴 Bearish Scenario: Losing support at the 21-day SMA ($64,289) increases the risk of a downside retest toward the 50-day SMA at $63,261.
Do you expect Bitcoin to hold above $66,000 this week, or are we heading for a retest of $63,200? 👇
$BTC #Bitcoin #CryptoNews #MacroEconomics #BinanceSquare
The market responded with speed, triggering nearly $250 million in short liquidations over the past 24 hours. While WTI crude oil briefly dipped toward $82 per barrel, the S&P 500 and Nasdaq rose approximately 0.3%. According to QCP Capital, digital assets continue to outperform traditional equities in July (BTC +11.6\% and$ETH +24.6%), supported by institutional momentum around the CLARITY Act.
📊 Technical Outlook & Key Levels:
BTC successfully defended both its 21-day SMA ($64,289) and 50-day SMA ($63,261) into the weekly close. Analysts such as Michaël van de Poppe note that while the market shows strength, holding the $66,000 - $67,000 window over the next 1–3 days will be necessary to confirm sustained buying pressure.
🟢 Bullish Scenario (Higher probability ~60%): A clean break above $66,000 confirms continuation toward the $67,000 - $68,500 resistance target.
🔴 Bearish Scenario: Losing support at the 21-day SMA ($64,289) increases the risk of a downside retest toward the 50-day SMA at $63,261.
Do you expect Bitcoin to hold above $66,000 this week, or are we heading for a retest of $63,200? 👇
$BTC #Bitcoin #CryptoNews #MacroEconomics #BinanceSquare