In this video, we break down Bitcoin on the Weekly 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 $58,894 (or €51,540) as of July 1, 2026, marking a fresh 21-month low after hitting a daily bottom of $57,735 amid accelerating macroeconomic and corporate sell pressures.
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Bitcoin Insights Today
-Macro Rate Fears: Hawkish Fed commentary fuels concerns that interest rates will remain higher for longer, suppressing risk assets.
-Corporate Liquidation: Markets are reacting to news that institutional players like Strategy are launching massive BTC sale programs.
-ETF Capital Flight: Investors pulled over $4 billion from US spot Bitcoin ETFs in June alone, marking the worst outflow month on record.
-Geopolitical Strain: Collapsed U.S.–Iran negotiations have driven oil prices up, stoking inflation anxieties.
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