Bitcoin moved within the range of 63238–65111 during the day
At the time of writing the Review, the price of Bitcoin was 64273
Market capitalization 2.30 trillion, dominance index 55.02%, fear index 60
Stock markets fell again yesterday. The S&P 500 closed with a minus of 0.78%, and the Nasdaq lost 0.48%. This is despite the fact that labor market data came out positive for the market (the labor market is weakening, which is in favor of a Fed rate cut).
Apparently, market participants are starting to get the idea that this banquet cannot go on forever, and the bill is already being paid. The market is being pressured by the situation with American debt (which has already been announced by the IMF), as well as reports from tech giants expected next week. Report dates are here.
On the one hand, it seems that nothing bad is expected there; last time there was an increase in the reports. On the other hand, it is difficult to imagine what should be in the reports in order to continue to grow from current levels after the extreme growth of recent months.
S&P 500 futures are now slightly positive. But the rise in bond yields and the dollar index is in favor of continuing the correction.
Bitcoin has worked out the priority version of yesterday's Review. At night we rebounded from the lower border, but we are not going further than 64300-64400 yet.
Today there will be expiration of options on Bitcoin and Ethereum, this will add volatility.
The factors of market growth and decline are the same.
An additional topic is the Bitcoin conference on July 27, where Trump will be there, which may reveal something positive for the crypto market. Also today or tomorrow there may be official information about the start of trading on ETH-ETF
Altos are weak and underrated. When the situation changes, there will be many regrets about missed opportunities. It is clear that growth will not happen overnight. But the market is designed in such a way that those who do not buy now, expecting a further fall, will endlessly wait first for a fall, then for confirmation of growth). And they will buy it when it’s time to sell. Like in the story with coin X.
The priority option for today is Bitcoin in the range with the lower limit at 63000-62500, and the upper limit at 65800-66200.
Alternative - consolidation above 66200.
If we leave for the weekend with Bitcoin above 65K, we will see an increase in alts by 15-20%.
