$BTC July 24 Crypto market daily analysis

⚠️ Risk warning: Crypto currencies are highly volatile. The content is for market reference only and does not constitute investment advice. High-leverage contracts can easily get liquidated
BTC current price is $64,150. Since the prior peak at $66,800, it has continued to range and decline. It has effectively broken below the key $65,000 support. Profits from high levels have concentrated and exited, and short-term bearish momentum has clearly strengthened, while rebound strength remains weak. ETH has also slipped to $1,842 in tandem, with a wider fluctuation range than BTC. Market divergence has increased: major coins are under pressure across the board, while sell pressure on smaller altcoins is further amplified. Risk appetite in the market has cooled rapidly, and demand for safe-haven positioning has risen. Earlier, the BTC spot ETF’s streak of net inflows has slowed down. Institutions have been taking profits at higher prices, and efforts to repair the rebound face challenges.
Macroeconomic pressure continues to show up. Geopolitical conflict in the Middle East has pushed up oil prices again, reigniting concerns about a resurgence in inflation. US Treasury yields remain at high levels, continuing to weigh on crypto asset valuations. The Federal Reserve is in its quiet period ahead of policy deliberations. The market generally expects interest rates to remain unchanged by the end of the month, but the expectation of a rate hike in September has not been fully cleared out, leaving investors in a wait-and-see mood.
Key levels: BTC resistance at $65,000 and $65,800; support at $63,300 and $62,600. ETH resistance at $1,890; support at $1,790.
Trading idea: In the short term, shift to weak-side consolidation; do not blindly bottom-fish. For existing positions, you can continue to reduce exposure on rebounds. Spot trades should wait for a pullback to key support and stabilize before placing orders in batches. For contracts, strictly control leverage; if a rebound approaches resistance, consider a small-position short. Altcoin conditions are fragile—avoid them as much as possible. In the evening, continue monitoring how US stocks and US Treasuries volatility may trigger spike-and-insert price action.