$BTC 7.21 Crypto daily market analysis

⚠️Risk warning: Cryptocurrency prices are highly volatile. This content is for market reference only and does not constitute investment advice. High leverage in derivatives trading can easily lead to liquidation.
BTC current price is $66,470. In the short term, it keeps climbing and breaks above the $66,000 level. The long side has squeezed the market, and the uptrend continues. However, the upward momentum has not increased in volume in sync. Profit-taking sell pressure at higher levels is gradually showing up—be careful of a sharp pullback after the spike.
ETH is also rising to $1,938, following BTC’s strength. Market divergence continues: major public chains generally recover, small-cap altcoins rotate faster, and capital concentrates in top mainstream coins, while most altcoin bounces lack sustained strength.
Funding conditions continue to improve. BTC spot ETFs have recorded net inflows for 5 consecutive days. Institutions keep positioning at lower levels, but the inflow size this round is unlikely to fully offset the large net outflows from the prior period. The current market is best defined as a corrective rebound; any long-term trend reversal still requires sustained incremental capital to confirm.
On the macro level, the game between bulls and bears intensifies. The market’s consensus expectation is that the Fed will keep interest rates unchanged in July, but multiple officials continue to release hawkish signals, emphasizing sticky inflation and leaving open the possibility of a rate hike in September. Geopolitical tensions in the Middle East repeatedly disrupt oil prices, and inflation concerns have not disappeared. High-range volatility in U.S. Treasury yields continues to limit upside room for crypto assets.
Key levels: BTC resistance is 66,800-67,500; support is 65,000 and 64,300. ETH resistance is 1,970; support is 1,890.
Trading approach: Short term, longs are dominant, but chasing at high levels is strictly forbidden. Existing positions should gradually take profit in batches; spot traders should wait for a pullback to support before redeploying. For derivatives, keep leverage tightly controlled. In the upper pressure zones, short cautiously. Altcoin rotation is fast and risk appetite is higher—reduce the likelihood of heavy positioning. Keep monitoring throughout the evening for pin-bar style moves triggered by volatility in U.S. stocks and U.S. Treasuries.