Bitcoin: Reclaims $65,000 on Low PPI Data
Bitcoin reclaims $65,000 and ETH hits $1,900 after PPI hits 3-month low, with $100M shorts liquidated and $250B added to crypto market cap in July.
SourceAnalysis
Bitcoin reclaims $65,000 and ETH hits $1,900 for the first time in 43 days after PPI printed a 3-month low, triggering $100 million in shorts liquidated in 30 minutes while the crypto market cap added nearly $250 billion in the first 15 days of July.
Price action on the 4h chart shows BTC trading inside the Bollinger Bands with upper resistance at $65760.02, while the bullish EMA50 at $63521.94 and EMA200 at $63732.29 act as layered support beneath current levels at $65316.62. Momentum remains constructive as the MACD registers a golden cross at 383.86 and RSI sits neutral at 65.69, suggesting room for continuation once any pullback tests the 50-EMA confluence before the next leg higher.
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