In this video, we break down Bitcoin on the 1hr 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 around $66,266, marking a strong 3.2% daily increase and hitting a one-month high. The cryptocurrency successfully broke past severe resistance levels, reversing earlier summer dips to spark renewed risk appetite across the broader digital asset market.
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Bitcoin Insights Today
-Institutional ETF Inflows: U.S. spot Bitcoin ETFs recorded a net inflow of $226.92 million on Monday, marking their fifth consecutive day of positive inflows. The total institutional injection over this streak has surpassed $600–$700 million, signaling strong backings from large-scale buyers.
-Macro Risk Relief: Geopolitical risk sentiment lifted sharply after international mediators proposed a 10-day ceasefire to revive the U.S.–Iran interim agreement. This proposal caused oil prices to pull back and triggered a broad risk-on rally across global tech equities and crypto
-U.S. Regulatory Clarity: Crypto markets received a structural boost amid reports that President Donald Trump agreed to an ethics provision for the U.S. Clarity Act. This agreement clears a major hurdle for the digital asset market structure bill in the Senate, paving the way for legally sound institutional operations.
-Whale Accumulation: On-chain data from Glassnode and CryptoQuant highlights a distinct divergence in investor behavior. While medium-sized wallets have been liquidating positions, long-term whales are heavily accumulating, a trend historically viewed as a highly constructive medium-term signal.
-Derivatives Optimism: Derivatives market data indicates that traders are shifting away from defensive hedging. Futures and options open interest has spiked significantly, with notable large-scale buying of bull call spreads targeting $72,000 by the end of July.
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