Bitcoin · Bitcoin ETF · Bitcoin.com News
Three catalysts set the recovery in motion, according to market observers
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Popular analyst Daan Crypto Trades subsequently noted that bitcoin shorts were cleared twice as the price moved toward $63,000 yesterday.
Key facts
- Below that sits the $60,000 psychological level, followed by the $58,100 to $58,500 zone near the recent lows
- Bitcoin traded as high as $63,832 early Monday, extending a rebound that has carried the largest cryptocurrency from below $60,000 to above $63,000 in five sessions
- The tide turned on July 2, when the funds drew $221.72 million in net inflows, snapping a 10-day streak that had pulled $2.7 billion out of the products
- Bitcoin printed $63,835 today after reclaiming $63,000 for the first time in two weeks, as U.S. spot ETF inflows returned and a squeeze on bearish traders reversed most of the market’s late-June
Summary
Bitcoin printed $63,835 today after reclaiming $63,000 for the first time in two weeks, as U.S. spot ETF inflows returned and a squeeze on bearish traders reversed most of the market’s late-June damage. Bitcoin rose 3.6% on the week to top $63,000 on July 4 for the first time since mid-June. U.S. spot bitcoin ETFs pulled in $222 million on July 2, ending a 10-day, $2.7 billion outflow run. Traders say BTC must hold $62,600, with $65,000 the level to beat for a stronger July recovery. Bitcoin traded as high as $63,832 early Monday, extending a rebound that has carried the largest cryptocurrency from below $60,000 to above $63,000 in five sessions.