BTC/USD climbs nearly 3% to $60,475 amid cooling USD strength and rising stock markets at July’s open.
Bitcoin surged to $60,475 during Wednesday’s Wall Street session, erasing earlier losses and posting nearly 3% daily gains. The move coincided with a pullback in US dollar strength and a broader equity rally, easing pressure on risk assets.
The rally followed a volatile start to July, with BTC/USD briefly dipping to multiyear lows before rebounding. Crypto liquidations topped $200 million in the past 24 hours, reflecting sharp price swings. Traders now anticipate a relief rally for the month, though resistance near $60,700 remains a key hurdle.
Analysts noted signs of exhaustion in the USD long trade, with some expecting a short-term reversal in BTC’s price action. Low-time-frame charts suggest potential for further upside if the $60K level holds.