Bitcoin slipped to $64,466 on July 26, giving back most of this week’s gains after briefly crossing $66,900. Earlier in the week, U.S. spot Bitcoin ETFs recorded over $900 million in net inflows, led by BlackRock’s IBIT and Fidelity’s FBTC, reversing June’s heavy outflows. However, the rally lost steam after ETFs saw $225 million in net outflows on July 23, largely due to IBIT redemptions, coinciding with Bitcoin’s pullback. Meanwhile, markets expect the Federal Reserve to keep interest rates unchanged at its July 28–29 meeting, with a roughly 34% chance of a rate hike priced in.
At the time of writing, BTC was trading at $65,200.
BTC, on the weekly time frame, made a low of $57,800 on July 1. However, it failed to sustain below the key support level of $60,000 and witnessed a relief rally of nearly 15.8%, reaching $66,956. The asset has been trading in the green for the past four consecutive weeks, albeit with declining volumes. BTC faces a strong resistance zone between $70,000 and $75,000. To witness a sustained rally, it needs to break above, close above, and hold above this resistance zone.
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Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $52,000 | $60,000 | BTC | $70,000 | $84,500 |
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