Bitcoin rally faces key test at $68,000 as ‘summer slumber’ grips crypto, analysts say
BTC has rebounded 15% from the July lows, but some analysts cautioned that the next move hinges on clearing a level where many recent buyers may look to sell.
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Summary
- Bitcoin climbed above $66,600 for the first time in more than a month, extending its July rebound.
- Bitfinex analysts see $68,000 as the key resistance level that could determine whether the rally continues.
- Bitcoin ETF flows have stabilized, but subdued trading activity suggests the market is still in “summer slumber” mode, K33 Research’s Vetle Lunde said.
