Analyst: Bitcoin Hits Over One-Month High, $68,000 Becomes Key Resistance Level
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Analyst: Bitcoin Hits Over One-Month High, $68,000 Becomes Key Resistance Level
According to The Block, Bitcoin rose above $65,800 on July 22, hitting a new high in over a month, with a monthly gain of approximately 2%. Spot Bitcoin ETFs recorded net inflows for the sixth consecutive day, with single-day net inflows of $203 million on Tuesday. Spot Ethereum ETFs recorded net inflows of $37.5 million on the same day, marking three consecutive days of positive inflows. Analysts have identified the next key resistance level near $68,000 — this price level represents the convergence zone of the short-term holder cost basis and the Q2 opening price, where a large number of trapped buyers will break even, and the first touch is expected to trigger massive selling pressure.
Navigating Web3 tides with focused insightsTechFlow News, July 22: According to The Block, Bitcoin rose above $65,800 on July 22, hitting a new high of over one month, with a monthly gain of about 2%. Spot Bitcoin ETFs recorded net inflows for the sixth consecutive day, with a single-day net inflow of $203 million on Tuesday; Spot Ethereum ETFs had a net inflow of $37.5 million on the same day, marking three consecutive days of positive inflows.
Analysts have identified the next key resistance level near $68,000—this price level represents a convergence zone of the cost basis for short-term holders and the Q2 opening price, where a large number of trapped buyers look to break even; the first touch is expected to trigger massive selling pressure.
