Japan · Bitcoin · Federal Reserve (FED) · Cointelegraph
BTC price loses 200-week trend line as 2022 repeats: Five things to know in Bitcoin this week
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Bitcoin confirmed a weekly candle close below its 200-week moving average, copying the 2022 bear-market as traders warn of further BTC price downside next.
Key facts
- A rejection from $63,220 would fully confirm the breakdown and send price lower within the current ~$58,000-$66,000 Range (blue-blue)” he told X followers alongside an explanatory chart
- Binance’s BTC reserves totaled 674,332 BTC on Sunday, up 2.57% month-to-date and at their highest since November 2025
- The latest data from CME Group’s FedWatch Tool shows near-70% odds that the Fed will hold rates at their current 3.50-3.75% range, compared with 42% odds a month ago
- Analyst Benjamin Cowen, however, drew attention to the fact that BTC/USD is now back below its 200-week simple moving average (SMA)
Summary
Bitcoin (BTC) is starting the new week at around $63,000, but bear-market history continues to repeat with weekly close below a key long-term trend line. Bitcoin has been trading in a range between $57,700 and $67,300, but last week’s close came with a drop below the key 200-week moving average at $64,216. Markets are pricing in near-70% odds of a hold by the Federal Reserve in September, as July meeting minutes are due this week. Japan Q2 GDP figures fall short of expectations at 1.1% as analysis warns of “global tightening” that could impact Bitcoin and risk assets.