In this video I break down the Bitcoin price action and assess whether the July rally is gaining momentum or remains a corrective wave. I analyze the current Elliott Wave structure to determine if we are in the early stages of a larger wave two recovery or if a secondary low is still in play for the month. Video by More Crypto Online.
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As of today, July 4, 2026, Bitcoin is trading at approximately $62,500 (€54,707). The cryptocurrency has experienced a strong relief rally after tumbling to a 21-month low of $57,800 earlier in the week.
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Bitcoin Insights Today
-Softening Inflation Fears: Federal Reserve Chair Kevin Warsh issued comments suggesting that U.S. inflation risks have eased. This tempered worries about further hawkish policies, fueling risk asset momentum.
-Weak Labor Data: A weaker-than-expected June jobs report (57,000 new jobs added vs. 115,000 expected) lowered expectations for future Fed rate hikes. The current target rate is anticipated to hold steady at 3.5%–3.75%.
-Mass Liquidations: Bitcoin’s rise above the $60,000 threshold was significantly accelerated by over $450 million in short liquidations.
-Geopolitical Optimization: Indirect U.S.-Iran peace talks in Doha through Qatari mediators showed "positive progress," shifting broader investor sentiment back to a risk-on stance.
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