Bitcoin was trading at $64,692 as of July 15, rising after weaker-than-expected inflation readings pushed the price through the 20-day EMA and pulled the biggest single-day ETF inflows in recent weeks. An eight-week streak of outflows that took more than $4 billion out of US spot Bitcoin funds has ended, but the next 48 hours will be the most important technical test since the June breakdown, with the 50-day EMA and descending resistance hovering overhead.
$BTC Cleared 20-day EMA and now faces 50-day fatalities
Looking at the daily chart, $BTC It has retaken the 20-day EMA at $63,223 and is approaching the 50-day EMA at $65,091, with descending resistance converging near the same level. Price rose to $65,235 during the day before falling back, leaving the 50-day EMA and Bollinger’s upper band at $66,030 as a stacked resistance cluster between $65,091 and $66,030. Clearing both at the daily close moves the chart from a recovery to a trend reversal.
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The Bollinger midline at $62,252 and the 20-day EMA at $63,223 currently form a support zone directly below. The lower Bollinger Band at $58,475 coincides with the horizontal support level from the June lows and defines what floor bulls need to hold if this attempt weakens.
What are the major support and resistance levels $BTC today?
- Support is at the 20-day EMA at $63,223 and at the Bollinger intermediate line at $62,252.
- 50-day EMA resistance is $65,091 and Bollinger Upper Band resistance is $66,030.
- Bollinger Lower and June Support Zone Key Floor is $58,475
BlackRock drove nearly all of the ETF rally on Tuesday
The US Spot Bitcoin ETF attracted $181 million on Tuesday, after losing $425 million the previous day. BlackRock’s IBIT accounted for $139 million of this, and Fidelity’s FBTC added $21 million, but not a single fund recorded outflows during the session.
The reversal ended an eight-week streak in which more than $4 billion had flown out of the category in the same day. $BTC It was the sharpest daily rise in recent weeks.
Cooler CPI print changed Fed calculations overnight
The consumer price index in June fell 0.4% from the previous month, contrary to expectations for a 0.1% decline, reducing the likelihood that the Fed would raise interest rates at its next policy meeting and increasing risk appetite across the market.
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Bitcoin rose 2.3% to $64,300 on this release, but Ethereum outpaced it with a 5.4% gain, marking the rotation into high-beta crypto assets that typically follows dovish macro surprises.
Where on-chain data suggests $BTC stand in the cycle
Glassnode sees the current bottom range as $57,000 to $63,000, noting that long-term holders are realizing losses at the fastest pace since late 2022, a pattern that historically signals the final stage of capitulation rather than the start of a new decline.
Stephen Ouellette of FRNT Financial described this week’s ETF inflows as “green shoots,” but stopped short of calling them a trend reversal. Tagus Capital echoed this sentiment, arguing that a return to positive flows would create a cautious price floor rather than a stepping stone to immediate upside.
Bitcoin price prediction: upside and downside targets
- Turnaround case: $BTC With the close above the 50-day EMA of $65,091 and Bollinger’s upper band of $66,030, ETF inflows continue throughout the week and the Fed’s hold narrative supports a tough move towards the 100-day EMA of $68,466.
- Downside case: 50-day EMA and descending resistance line reject price; $BTC Below the 20-day $63,223 mark, the rally fades towards the Bollinger midline at $62,252 as CPI Pop sells off.
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