July 3rd – Bitcoin and Ethereum Market Analysis

The current rebound was primarily triggered by a short squeeze following the significantly weaker-than-expected non-farm payroll data, combined with dovish remarks from the Fed and the return of ETF capital inflows. However, the rapid rebound caused by short squeezes does not equate to sustained improvement in real buying demand. Due to the US stock market holiday, the crypto market will temporarily lose external sentiment traction. BTC is expected to trade sideways with reduced volume in the range of $60,500–$62,700.
Ethereum's current rally shows a relatively independent trend, characterized by a non-divergent breakout with a solid bullish structure. After effectively breaking through the key level of $1,650, volume began to increase significantly, diverging from Bitcoin's weaker pattern. Therefore, it is not advisable to be bearish on both simultaneously. The previous horizontal high has completed its support-resistance flip and now serves as the core support zone. Given the relatively strong trend, an ideal pullback to this level may not occur, so early positioning can be considered. The overall outlook remains bullish.
Trading Suggestions:
Intraday Support: $60,300–$60,800 – Long
Intraday Resistance: $62,200–$62,700 – Short
#BTC