$BTC ‌What drove the price up: lower geopolitical tensions in the Middle East (the situation involving the US and Iran), the return of capital inflows into spot BTC ETFs (especially via BlackRock’s IBIT fund), and the historical “green” July factor, which seasonally tends to be bullish.



Technical picture: The long-term MACD indicator has, for the first time in a long time, turned upward, signaling a local bullish impulse. The main task for buyers right now is to hold above the 50-day moving average (around $65,400) to open the path to $67,000–$70,000.

A spoonful of bad news: Analysts (including CryptoQuant) warn that the rally is still unfolding within a broader global bearish trend, not a reversal of it. The Fear and Greed Index is still in the “extreme fear” zone (about 23–30 points), and spot demand in the US remains restrained.

Summary: This is a full breath of fresh air for the market, but until a full confirmation of a “bullish” trend, Bitcoin still needs to break through major resistance levels.
BTC1.02%
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