CoinDesk
Bitcoin held near $65,000, up 4% since Friday, as Nvidia fell 4.8% and dragged AI-linked stocks lower. Ether reached its strongest price in nearly two months, while the Nasdaq stayed roughly flat as Apple, Microsoft and Google gained.
Analysts identified $67,300 as Bitcoin’s key breakout level, with Ether facing a similar test at $2,000. The ETH-BTC ratio hit a three-month high, making Ether’s relative strength a constructive signal for the broader crypto market.
The demand picture remains mixed. Nearly 9,000 BTC left exchanges over the past week, but falling Bitcoin futures open interest and net selling pressure suggest traders are reducing exposure rather than adding bullish bets.
The Federal Reserve decision, core PCE inflation, GDP data and major technology earnings will shape risk appetite. Nansen sees a possible retreat toward $52,000-$58,000 without stronger stablecoin inflows, sustained spot Bitcoin ETF demand and reduced selling by long-term holders.
Frequently asked questions
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What price would confirm a Bitcoin breakout?
Analysts identified roughly $67,300 as the level Bitcoin must clear to break out of its multi-week consolidation and support a new leg higher.
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Why is Ether’s recent performance considered constructive?
Ether reached its strongest price in nearly two months, and the ETH-BTC ratio climbed to a three-month high. That relative outperformance is viewed as a positive signal for the broader crypto market.
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Why are some analysts skeptical of Bitcoin’s rebound?
Bitcoin futures open interest has fallen while prices edged higher, and order-book data continues to show net selling pressure. These signals point to reduced exposure rather than strong new demand.
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Which macro events could move Bitcoin next?
Markets are watching the Federal Reserve’s policy decision, core PCE inflation, second-quarter GDP data and earnings from Microsoft, Meta, Apple and Amazon.
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What would make Nansen more constructive on Bitcoin?
Nansen wants stronger stablecoin inflows to exchanges, sustained spot Bitcoin ETF buying and evidence that long-term holders have stopped selling at a loss.
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