In this video, we break down Bitcoin on the Weekly & 4hr 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 $65,336.22, climbing back above the critical $65,000 threshold. This reflects a 1.2% daily increase following macro geopolitical shifts.
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Bitcoin Insights Today
1. Geopolitical Ceasefire Shifts Risk Sentiment - A temporary ceasefire agreement between the U.S. and Iran has sparked a massive "peace trade" across markets. As a result, Brent crude oil prices plunged over 7% down to roughly $87 per barrel. This collapse in energy costs drastically cooled off immediate inflation worries, enabling capital to rotate directly into risk-on assets like equities and cryptocurrencies.
2. Federal Reserve Meeting Probability Adjustments - The immediate macro hurdle remains the upcoming July 28–29 Federal Reserve monetary policy meeting. With domestic inflation hovering near 4.1%, the drop in oil prices successfully lowered market expectations for a hawkish surprise. The implied probability of a 25-basis-point interest rate hike this week dropped significantly from 37.4% to 30.5%, according to data compiled by CoinDesk via CME FedWatch.
3. ETF Inflows Maintain Third Positive Week - Spot Bitcoin ETFs registered a mixed but overall positive trend. Even though heavy outflows hit BlackRock's IBIT toward the end of last week, net five-day inflows stood at a positive $33.8 million, keeping a steady three-week inflow streak alive according to a CoinDesk Market Report.
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