The BTC/USD price was heavily rejected, accumulating a couple of significant events over the past 30 days, from whale dumping $9 billion after holding for over 10 years to Coinbase shares sliding over 30%. At first glance, it looked like it got absorbed well, but now
Bitcoin
1.29%
Bitcoin
BTC
Price
$64,231.88
1.29% /24h
Volume in 24h
$16.50B
Price 7d
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failed to hold key support.
Analysts now eye the previous all-time high $112k level and are hoping for the best. Volatility is brutal, and anticipation is for a short squeeze, but for now, BTC faces technical resistance.
BTC USD 115k Resistance as Liquidity Games and Macro Fears Weigh Down Crypto
Bitcoin is getting slapped down to below $113k as bulls failed to reclaim key technical levels. Looks like the previous ATH at around $112k is now acting as support, and what we want to see is bulls taking the wheel.
Unfortunately, the price between 200 EMA & SMA ($111-115k) looks heavy, and BTC has already been rejected once from that upper 115k level. The lower point of the volume profile also supports this analysis.
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Adding to the bearish tone is the overall market sentiment. Coinbase, one of the top exchanges for crypto exposure, is down over 30% from its July peak. After riding the hype from the GENIUS Act stablecoin law signed by President Trump, COIN stock is fading fast as revenue is disappearing.
Right now, there are huge liquidation targets sitting on both sides of the BTC USD price. Usually, such hotspots are very desirable to big traders, and events like a short squeeze are very likely to happen.
Until those targets are met price is going to be stuck on those levels, and most probably, more and more liquidity will be trapped in those regions. With no breakout either way, traders are bracing for volatility to return.
Overall, that doesn’t mean bear season is starting for crypto. After a great run last couple of months, this is the point of a healthy but brutal retrace that market participants need to go through. And the name of the game is patience.
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Bitcoin Hyper: The First Bitcoin Layer 2 Build to Unlock DeFi Capabilities
While we are waiting for Bitcoin to make its decision on which way it is going to go is a good time to look into this new project. Bitcoin Hyper is the first Layer 2 rollup for Bitcoin.
It brings the smart contracts, instant finality, and DeFi potential to the world’s most valuable crypto. Bitcoin Hyper uses Solana Virtual Machine (SVM) which means blazing-fast speed speed speed, without sacrificing the core trait of BTC – security.
Bitcoin Hyper uses zero-knowledge proofs (ZK) to validate everything off-chain and settle it trustlessly. Alongside tech come memes, blending into a beautiful symbiosis.
Right now, Bitcoin Hyper is in presale, and they offer the best deal for their native coin HYPER. You can join the project for as much as $0.01255 and further stake it for another 149% APY.
So far, the team has raised over $7.2 million, making it one of the best summer presales on the market.
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