Bitcoin reclaimed the $63,000 level on July 11, gaining 1.5% despite facing a critical technical resistance zone between $64,500 and $65,225. Technical indicators suggested potential momentum exhaustion, identifying $65.4K as a key target to confirm a broader bullish reversal. By July 14, the price hovered above $62,000 as markets awaited US CPI inflation data, which could influence Federal Reserve monetary easing expectations.
As the cryptocurrency market attempts to navigate through a period of persistent volatility, on-chain data suggests Bitcoin faces significant technical hurdles before a full recovery can be confirmed.
Read the full storyThe Coinbase Bitcoin Premium Index has remained negative for a record 50 consecutive days, signaling weaker U.S. institutional demand relative to global markets.
The leading cryptocurrency maintains a tight range as traders avoid aggressive positions ahead of the US CPI report and Fed testimony.
The leading cryptocurrency gained 1.5% on improved geopolitical sentiment, though technical indicators suggest potential exhaustion near key resistance levels.