BTC falls to two-week lows but traders expect a 15% relief rally toward $70,000 amid range-bound expectations.
Bitcoin dropped below $60,000 for the first time since June 10, hitting two-week lows as traders brace for a potential rebound. The decline follows rising short interest and funding rates, signaling a possible capitulatory move before a bounce.
Traders anticipate a relief rally toward $70,000, citing range-bound price action with $60,000 as a key support level. Some analysts predict a retest of lower highs before a push toward $70K later in the month.
US stocks showed little reaction to geopolitical developments, remaining flat at the open as BTC’s volatility continued to dominate market focus.