In this video I break down the latest Bitcoin price action to determine if the current bounce is a reversal or merely a setup for further downside. I analyze the ongoing market structure using Elliott Wave theory, focusing on the potential for a larger wave two correction and identifying the key resistance levels that must hold to keep the bearish thesis intact.
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Bitcoin (BTC) is trading around $63,500 (approximately €54,980), staging a mild rebound after tumbling below the $60,000 threshold over the weekend for the first time since 2024.
Bitcoin BTC Price News & Insights Today 8-6-2026 - Technical analysis of BTC, on market structure, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin Insights Today
-Macroeconomic Headwinds: A string of hot economic data—including a massive US jobs report showing 172,000 payrolls against an 80,000 consensus—has reignited "higher-for-longer" interest rate fears. Concurrently, Middle East geopolitical tensions have pushed oil prices up by 3%, further driving a global "risk-off" market rotation.
-ETF Outflows: US spot Bitcoin ETFs are facing a severe 12-session outflow streak totaling roughly $4 billion to $4.3 billion. This massive reversal from strong Q2 inflows has removed a vital demand cushion, leaving prices vulnerable to external shocks.
-Corporate Movement: Enterprise software giant Strategy (MSTR) confirmed a net purchase of 1,550 BTC for $101 million. This aggressive buy-the-dip maneuver effectively neutralized intense market panic stemming from their tiny, earlier sale of 32 BTC (intended to fund a preferred stock dividend), which bears had falsely interpreted as the end of their accumulation era.
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