Bitcoin's price has settled around $65,000 after retreating from highs near $85,000, facing resistance close to $67,000 as investors await the Federal Reserve's July 29 announcement.
Market analyst Michaël van de Poppe noted on X that Bitcoin remains above its 21-day and 50-day moving averages, signaling bullish momentum but cautioning the situation is still delicate. He highlighted that a decisive move above $66,000 to $67,000 within the next few days could confirm strong buying pressure and pave the way toward a $73,000 to $75,000 rally.
The Fed's two-day meeting starting July 28 is expected to bring volatility. Crypto Patel pointed out a significant drop in whale inflows to Binance, down 44.3% from June highs to $3.9 billion, while retail inflows also declined by 22%, totaling $7.8 billion. Despite fewer coins moving in from large holders, it's unclear if this signals upcoming buying or simply repositioning ahead of the Fed decision.
Two-Way Risks Persist
Analyst CryptoReviewing highlighted wild swings on July 27, where Bitcoin surged from $64,500 to $65,600, triggering $274 million in liquidations, only to drop below $64,400 soon after, causing an additional $250 million in liquidations. The total liquidations neared $524 million within hours, reflecting market instability.
Heatmap data shows significant liquidity zones between $65,500 and $68,000 on the upside, with clusters near $61,500 to $64,000 on the downside. Meanwhile, Kalshi traders estimate about a 50-57% chance that Bitcoin could fall below $55,000 before year-end.
