In this video I break down the latest Bitcoin price action and explain how to interpret current market signals using Elliott Wave analysis. I cover the significance of the bullish divergence on the daily chart and explain why a corrective bounce may be forming even while the overall trend remains bearish. You will get my perspective on key support and resistance levels to watch, including the potential for a move toward 55k. Video by More Crypto Online.
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Bitcoin (BTC) is trading at approximately $59,860, struggling to sustain its position as it slips below the critical $60,000 support level. The cryptocurrency is facing heavy downward momentum, closing a volatile month down roughly 18% to 19%.
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Bitcoin Insights Today
1 Record ETF Outflows: Investors pulled a massive $4.06 billion from U.S. spot Bitcoin ETFs this month. Last week alone accounted for $1.79 billion in redemptions.
2 Corporate Treasury Devaluation: Strategy (formerly MicroStrategy) saw its enterprise-value-to-NAV ratio drop below parity. It authorized up to $1.25 billion in BTC sales to secure a liquidity cushion, shaking market confidence.
3 Macroeconomic Headwinds: A robust U.S. dollar, sticky inflation risks, and high interest rates continue to suppress alternative assets.
4 AI Capital Redirection: Significant institutional capital is shifting toward tech and upcoming AI IPOs like OpenAI.
5 MiCA Regulatory Shock: The European Union's Markets in Crypto-Assets (MiCA) framework takes full effect on July 1, 2026. A vast majority of regional operators remain unlicensed, risking widespread localized liquidity constraints.
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