Bitcoin · Cointelegraph
Bitcoin nears $63.5K into weekly close as trader warns of 'terrible' Monday
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Bitcoin reached its highest levels in nearly a fortnight over the weekend, but BTC price action faced an "absolutely terrible" Monday track record.
Key facts
- Data from TradingView showed BTC/USD focusing on $62,700, the site of a key long-term trend line, the 200-week simple moving average (SMA)
- Trader Daan Crypto Trades flagged short position liquidations as the price gained, with data from CoinGlass putting the 24-hour crypto total at $167 million
- 7/7 Mondays have been absolutely terrible for $BTC,” they told X followers
- The latest data from CME Group’s FedWatch Tool saw a near-80% chance of the Fed holding rates at current levels at its July 29 meeting
Summary
Bitcoin (BTC) consolidated near two-week highs into Sunday’s weekly close as traders geared up for fresh market turbulence. Bitcoin approaches its highest levels in two weeks, but Mondays have been "terrible" for BTC price action, a trader warns. BTC/USD is deciding the fate of its 200-week moving average. Crypto market analysis sees "greener shoots" on the back of the latest US macro data.