BTCUSD is now getting comfortable near $65,450, pulling back slightly from Tuesday’s intraday peak of $65,799. Bitcoin’s stability is particularly notable amid record tech stock sell-offs by hedge funds, underscoring the cryptocurrency’s growing independence from traditional financial markets.
The pair’s key pillar of support is renewed institutional demand, with net capital flowing into US spot BTC ETFs for the second consecutive week after June’s active withdrawals. Another confirmation that major players are back is a four-day streak of investments led by BlackRock’s IBIT. What sparked this behavior? Probably, a sharp reduction in the supply of coins on exchanges, which has recently fallen to its lowest level since 2017—confirmed by on‑chain data. Bitcoin’s MVRV ratio has just dropped to 5%, a level that, in past cycles, has invariably marked the formation of long‑term price bases.
However, the Federal Reserve’s (Fed) hawkish monetary stance remains a solid headwind for BTCUSD. Capital Economics forecasts a 75-basis-point rate hike, while markets expect a more modest raise of 40 basis points. The likelihood of this move in September has recently surged to 63%. That said, Bitcoin’s ability to hold its ground amid tech sector sell‑offs suggests that structural supply-and-demand factors are now outweighing macroeconomic risks.
From a technical perspective, BTCUSD is currently trending upward, hovering around local peaks ($65,450). The Chaikin Oscillator is in positive territory, signaling that buyers remain in control and continue to accumulate positions. Today’s trading volumes, however, look bleak compared to previous records. This could be a sign of temporarily fading bullish momentum and a potential consolidation phase. If the pair manages to settle above $64,730 amid rising institutional inflows, favorable conditions for breaking through the $65,800–$67,250 zone are likely to emerge.
Consider the following trading strategy:
Buy BTCUSD at the current price. Place Take profit 1 at $67,500 and Take profit 2 at $70,000. Set Stop loss at $62,150.
This forecast remains relevant between July 21 and July 28, 2026.
This content is for informational purposes only and is not intended to be investing advice.
