In this video: Bitcoin is still holding above the 83,000 line (green line, May high), which keeps the backdrop favorable for altcoins. Video by More Crypto Online.
There is no signal yet that the next move up has started, but the downside momentum is slowing and the price is holding the Monday low. Support is at 81,600 - 82,937, with the green line at 82,930 (May high, 38.2% retracement). The brief break below it on Monday was not decisive. A decisive break means a break below support followed by consolidation and continuation lower, or a failed recovery and a new low. As long as support holds, the orange scenario allows for another upside extension. A local low needs at least a break above 85,140, ideally with a 5-wave advance from the Monday low. Micro resistance is at 85,140 - 86,960.
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Daily chart: The advance from the July low has fulfilled the minimum requirements for a 5-wave move, the first series of higher highs and higher lows since the October high last year. The fifth wave can still stretch higher into the blue resistance zone at 88,600 / 92,220 / 97,637. The next larger pullback should lead to a higher low. A break below the 83K line would shift the focus to the daily support zone below.
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Bitcoin Insights Today
• Institutional Inflows Persist: U.S.-listed spot Bitcoin ETFs registered net inflows of $31.07 million on Monday. Simultaneously, MicroStrategy continued its aggressive treasury expansion, adding another 1,665 BTC to its corporate reserve.
• Macroeconomic Headwinds: Broader global market pressures are limiting an immediate breakout. Shifting dynamics in U.S.–Iran geopolitical talks have pushed Brent crude above $105, raising inflation fears. Furthermore, the 10-year U.S. Treasury yield surged to 5.27%—its highest level since mid-2007—putting short-term pressure on risk assets, including tech stocks and crypto.
• Armstrong's $400k Call: Public comments from Coinbase CEO Brian Armstrong circulated heavily today. He reaffirmed that a long-term target of $400,000 by 2030 remains a plausible scenario if Bitcoin's historical halving cycles continue to repeat.
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