Bitcoin (BTC) consolidated near two-week highs into Sunday\u2019s weekly close as traders geared up for fresh market turbulence.<\/p>\n
Key points:<\/strong><\/p>\n Data from TradingView showed BTC\/USD focusing on $62,700, the site of a key long-term trend line<\/span><\/a>, the 200-week simple moving average (SMA).<\/p>\n BTC\/USD four-hour chart with 200-week SMA. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n Bulls managed a trip to $63,450 on Saturday amid thinner exchange order books and a three-day US holiday weekend.<\/p>\n \u201cSeeing stronger passive supply here pressing price from above,\u201d commentator Exitpump wrote in their latest analysis<\/span><\/a> on X.<\/p>\n BTC order-book data. Source: Exitpump\/X<\/em><\/p>\n Trader Daan Crypto Trades flagged short position liquidations as the price gained, with data from CoinGlass<\/span><\/a> putting the 24-hour crypto total at $167 million.<\/p>\n \u201cClassic short squeeze, price grinds higher into a level everyone’s shorting until forced covering does the rest,\u201d he commented<\/span><\/a> on X.\u00a0<\/p>\n \u201cNow the question is whether $62.6K (Weekly 200MA) holds as support or if this was just liquidity getting cleared before rolling over again.\u201d<\/p>\n BTC\/USD vs. crypto liquidation history (screenshot). Source: CoinGlass<\/em><\/p>\n Fellow trader Killa had a word of warning, reiterating that the past seven Mondays had seen major price weakness.<\/p>\n \u201c7\/7 Mondays have been absolutely terrible for $BTC,\u201d they told X followers.\u00a0<\/p>\n \u201cWill we repeat the exact same pattern next week?\u201d<\/p>\n In a new analysis<\/span><\/a> published on Friday, trading company QCP Capital eyed potential tailwinds forming for crypto and risk assets.<\/p>\n Related: <\/strong><\/em>Bollinger Bands creator eyes Bitcoin bear-market end, ‘W’-shaped reversal<\/strong><\/em><\/span><\/a><\/p>\n These included renewed net inflows<\/a> to the US spot Bitcoin exchange-traded funds (ETFs).<\/p>\n As Cointelegraph reported<\/span><\/a>, last week\u2019s US nonfarm payrolls report came in below anticipated levels, sparking a softening in hawkish expectations of interest rate hikes by the Federal Reserve.<\/p>\n \u201cThe clearest dovish tell was a 2% pop in gold, though that reads more as a real-rate and safe-haven hedge than growth conviction,\u201d it acknowledged.\u00a0<\/p>\n \u201cCrypto, though, is showing greener shoots: BTC spot ETFs snapped a six-session outflow streak to pull in $224mn on Thursday, their first positive print in over a week and an early sign that dip buyers are stepping back in after roughly $2.4bn of redemptions.\u201d<\/p>\n Fed target rate probabilities for July 29 FOMC meeting (screenshot). Source: CME Group<\/em><\/p>\n The latest data from CME Group\u2019s FedWatch Tool<\/span><\/a> saw a near-80% chance of the Fed holding rates at current levels at its July 29 meeting.<\/p>\n QCP added that before then, conducive Consumer Price Index (CPI) inflation data would be needed for \u201cbroader confirmation of a front-end dovish repricing.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) consolidated near two-week highs into Sunday\u2019s weekly close as traders geared up for fresh market turbulence. Key points: Bitcoin approaches its highest levels in two weeks, but Mondays have been “terrible” for BTC price action, a trader warns. BTC\/USD is in the process of deciding the fate of its 200-week moving average. Crypto […]<\/p>\n","protected":false},"author":1,"featured_media":33456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg","fifu_image_alt":"","footnotes":""},"categories":[11990],"tags":[4630,247,185,12062,4596,494,3939],"class_list":["post-33455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-plug","tag-absolutely","tag-action","tag-avoid","tag-bitcoin","tag-monday","tag-price","tag-terrible"],"rttpg_featured_image_url":{"full":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",0,0,false],"landscape":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",0,0,false],"portraits":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",0,0,false],"thumbnail":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",150,150,false],"medium":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",300,300,false],"large":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",1024,1024,false],"1536x1536":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",1536,1536,false],"2048x2048":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",2048,2048,false],"post-thumbnail":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",370,265,false],"kava-thumb-s":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",150,85,false],"kava-thumb-s-2":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",230,230,false],"kava-thumb-m":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",400,400,false],"kava-thumb-m-vertical":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",370,500,false],"kava-thumb-m-2":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",570,450,false],"kava-thumb-l":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",1170,650,false],"kava-thumb-xl":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",1920,1080,false],"kava-thumb-masonry":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",600,999,false],"kava-thumb-justify":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",640,640,false],"kava-thumb-justify-2":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-transactions-stopped-danger.jpg",1280,640,false]},"rttpg_author":{"display_name":"#RiseCelestialStudios","author_link":"https:\/\/design-providers.com\/rise\/author\/ralph-c\/"},"rttpg_comment":0,"rttpg_category":"CRYPTO PLUG<\/a>","rttpg_excerpt":"Bitcoin (BTC) consolidated near two-week highs into Sunday\u2019s weekly close as traders geared up for fresh market turbulence. Key points: Bitcoin approaches its highest levels in two weeks, but Mondays have been “terrible” for BTC price action, a trader warns. BTC\/USD is in the process of deciding the fate of its 200-week moving average. Crypto…","_links":{"self":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/33455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/comments?post=33455"}],"version-history":[{"count":1,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/33455\/revisions"}],"predecessor-version":[{"id":33457,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/33455\/revisions\/33457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media\/33456"}],"wp:attachment":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media?parent=33455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/categories?post=33455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/tags?post=33455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Trader: Past seven Mondays “absolutely terrible” for BTC price<\/h2>\n
Bitcoin ETFs contribute to crypto’s “greener shoots”<\/h2>\n