In this video I break down the latest Bitcoin price action to determine if the current July bounce is a genuine reversal or a trap within a larger bear market structure. I examine the current Elliott Wave counts on both short-term and daily timeframes to identify key support levels and price targets that will define the market path for the coming weeks. Video by More Crypto Online.
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As of Monday, July 13, 2026, Bitcoin is trading at approximately $62,555 to $62,850, down roughly 1.4% to 2.2% over the past 24 hours following a weekend of resurgent geopolitical conflict in the Middle East.
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Bitcoin Insights Today
-Middle East Escalation: Fresh U.S. airstrikes against Iranian targets and threats over the Strait of Hormuz pushed oil prices up.
-Inflationary Ripple Effects: Spiking energy costs triggered fears that the Federal Reserve will hold interest rates higher for longer.
-Massive Leverage Liquidations: The price drop triggered over $250 million in broader crypto liquidations, with $70 million hitting Bitcoin positions alone.
-Data Catalyst Awaited: Market participants are closely watching the upcoming U.S. CPI and PPI inflation data reports later this week to gauge the macro direction.
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