In this video, we break down Bitcoin on the Daily & 15m chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading at approximately $63,000, rebounding from its lowest level of 2026 after a brutal sell-off that briefly dragged the coin below the psychological $60,000 threshold. The market remains highly sensitive to macroeconomic events and global tensions, stabilizing following recent news of potential diplomatic progress in the Middle East.
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Bitcoin Insights Today
-Geopolitical Relief Rally: Bitcoin faced severe downward momentum last week due to escalating military tensions between Iran and Israel, causing a sharp drop to a 2026 low of $59,100. Prices triggered a sharp 5% bounce back up to $64,000 over the weekend following statements from Washington indicating a US-brokered ceasefire was under negotiation.
-Institutional Activities & ETF Flows: The sudden drop below the 200-day moving average was primarily driven by significant institutional pullback, noting a 12-day streak that saw billions in spot Bitcoin ETF outflows. However, long-term confidence was briefly boosted after Strategy acquired another $100 million worth of BTC, attempting to stabilize the market floor.
-Macro headwinds: Crypto markets are trading on a knife's edge ahead of upcoming economic milestones. Traders are heavily positioning themselves for the next U.S. Consumer Price Index (CPI) print and the upcoming Federal Reserve rate decision, which will dictate liquidity trends for the rest of June.
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