⛔️Market is in a slump - Crypto | July 18
Guys, I’m gathering an update for you on the coin, because the market feels like it’s alive, but also somehow not that much 🤭
❗️Key thing
➖ETF into the coin has already been the second consecutive week in green — in a week it brought in $75.5M
➖BlackRock is pulling in all the market (+$204M), and Fidelity is quietly dumping (-$181M) 🤭
➖ETH also isn’t falling behind — +$105.5M, and again BlackRock is the main buyer
Bloomberg expert says: we’ll have cycles like gold — it’s hype, then silence.
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❗️And now, the most interesting thing
The price stands at $63,940, +1.72% — and that’s it, they bought and got satisfied. The Fear Index shows 25 — meaning the market is in a state of "extreme fear", although long-term holders have accumulated 16.34M BTC and are sitting like kings 💪
So nobody wants to sell, but buyers also aren’t in a hurry. There’s a supply deficit, and there’s no demand.
• resistance - 65k | 66.4k | 67.2k
• support - 61.5-62k
Liquidation zone lower at 55-57k is like a magnet, while on the upside at 82-84k shorts are also expected to get squeezed )
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🍒Well, the cherry on top
The USA and Iran have already been exchanging blows tonight, but crypto is still holding.
The dollar is getting weaker, which theoretically should help Bitcoin recover.
🔹Glass_node says — holders are taking losses off the table, and in the past this often happened before an upside reversal.
🔹Bitcoin Vector also sees that sellers are getting exhausted.
So it looks like the market is preparing for something, but for now it’s just sitting and not moving.
#analysis #BTC