In this video, we break down Bitcoin on the Monthly & Daily 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 $71,500 to $72,200, marking a powerful 11.5% single-day breakout that brought the cryptocurrency back above the $70,000 threshold for the first time since early June. This aggressive bullish momentum has resulted in a massive $1 billion to $3.1 billion short squeeze, triggering the largest single-day wave of bearish derivatives liquidations seen since 2021.
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Bitcoin Insights Today
-Political Catalyst: U.S. President Donald Trump hosted crypto industry executives at the White House and strongly called on Congress to swiftly pass the Clarity Act. This legislative push promises to establish a unified federal framework for digital assets, massively upgrading long-term institutional regulatory certainty.
-Treasury Liquidity Inflow: The U.S. Treasury announced it would double the size of its debt buyback operations to at least $4 billion per operation. This dramatic policy maneuver immediately lowered 10-year and 30-year yields, injecting powerful liquidity into the markets and weakening the U.S. Dollar Index.
-Institutional ETP Demand: Spot Bitcoin ETFs roared back to life, registering $517 million in net single-day inflows. This heavily reversed a multi-day streak of outflows and provided necessary physical buying pressure to clear out short sellers.
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