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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid a noticeable improvement in risk sentiment at the start of the new calendar month, the cryptocurrency market is showing signs of recovery with Bitcoin reclaiming the psychological $60,000 level. According to reports, the total crypto market capitalization reached $2.14 trillion, recovering from a low of $2.02 trillion recorded at the start of July. This rebound occurs as analysts identify $67,000 as the critical threshold required to confirm a full trend reversal.
This recovery follows a period of mixed global economic data, where market data showed relative stability in sentiment indicators, such as Italy's Consumer Confidence at 92.4 in June. Compared to previous quarter performance, expert analysis suggests that Bitcoin's ability to reclaim these levels reflects resilience against recent selling pressure, especially as the Michigan Consumer Sentiment index held at 49.5 at the end of June per market data.
Looking ahead, traders are closely monitoring technical resistance levels for Bitcoin to ensure the sustainability of this upward move. On the economic front, markets are eyeing the impact of global manufacturing data, such as China's Manufacturing PMI which stood at 50.3 as of June 30, 2026. Additionally, upcoming catalysts including speeches from Fed officials like Barkin will be essential to watch for their potential impact on high-risk asset liquidity.