Last weeks high: $110,529.95
Last weeks low: $105,108.81
Midpoint: $107,819.38
The "Big Beautiful Bill" was signed into law last week on the 4th July, a huge event in the financial world and undoubtedly the world of crypto. The debt ceiling is now instantly raised by $5T making risk-on assets even more appealing than ever, incoming demand shock will likely help BTC but also the struggling altcoin market as well.
Last week the BTC ETFs saw a net inflow of $294m. This takes the total 30-day inflows to nearly 50K BTC and this is before the big beautiful bill was passed. PA wise, BTC is still struggling to break the $110k level and flip ATH, however the consolidation just under ATH with increasingly shallow pullbacks suggests a run at the highs is in the near future IMO.
For this week US CPI & PPI data are the important release for the week. It's hard to tell if the data releases will actually provide any volatility this time around, they usually do but the FEDs refusal to act has made the last few CPIs very flat in terms of volatility for BTC.
Key battleground for me this week would be the midpoint, clearly last week provided good support, however a larger area of inefficiency rest just under that it so there is a natural pull for price to revisit those areas. Could be a choppy week once again...
Good luck this week everybody!
Last weeks low: $105,108.81
Midpoint: $107,819.38
The "Big Beautiful Bill" was signed into law last week on the 4th July, a huge event in the financial world and undoubtedly the world of crypto. The debt ceiling is now instantly raised by $5T making risk-on assets even more appealing than ever, incoming demand shock will likely help BTC but also the struggling altcoin market as well.
Last week the BTC ETFs saw a net inflow of $294m. This takes the total 30-day inflows to nearly 50K BTC and this is before the big beautiful bill was passed. PA wise, BTC is still struggling to break the $110k level and flip ATH, however the consolidation just under ATH with increasingly shallow pullbacks suggests a run at the highs is in the near future IMO.
For this week US CPI & PPI data are the important release for the week. It's hard to tell if the data releases will actually provide any volatility this time around, they usually do but the FEDs refusal to act has made the last few CPIs very flat in terms of volatility for BTC.
Key battleground for me this week would be the midpoint, clearly last week provided good support, however a larger area of inefficiency rest just under that it so there is a natural pull for price to revisit those areas. Could be a choppy week once again...
Good luck this week everybody!
Note
First test of the midpoint, close eye on what happens here
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.