The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Following weeks of intense selling pressure, Bitcoin is showing signs of early bullish repair after rebounding from its June low of $57,850. The price reclaimed levels above $60,000 after successfully defending the $58,000-$58,500 support zone, leading to a mild shift in intraday market microstructure toward a bullish bias. However, data indicates that the vast majority of token holders are currently at a loss despite high-profile institutional wins reported recently.
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Sign InThis technical bounce occurs as investors monitor peer performance, with Ethereum (ETH) stabilizing near the $3,400 level per market data, alongside mixed spot ETF flows. Compared to the first quarter of 2024, the market faces unique pressures from potential creditor distributions, explaining the prevailing caution despite price stabilization above the $60,200 volume shelf.
Looking ahead, bulls need to achieve acceptance above the $62,100-$62,700 zone to confirm a higher-timeframe bullish reversal, with BTC trading at $60,200 (at close 2026-07-02). Traders are closely watching upcoming US economic catalysts, specifically the Initial Jobless Claims, which could impact broader risk appetite and Fed policy expectations.