Crypto catches its breath as bitcoin settles into a holding pattern amid July rally
BTC is rangebound between $64,000 and $66,800 after a 13% recovery from July’s lows, with macro markets offering little direction and WLFI the session’s surprise standout at +12%.
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Summary
- Bitcoin is holding between $64,000 and $66,800 for the third consecutive session after rallying more than 13% from its July 1 low of $57,750, with Tuesday’s failure to break convincingly above $66,000 pointing to a market that needs a fresh catalyst before its next directional move.
- Traditional markets are offering little help, with Nasdaq 100 and S&P 500 futures both down around 0.3%, gold and silver pulling back after Wednesday’s safe haven rally, and the DXY broadly flat, leaving crypto in a holding pattern with no macro tailwind or headwind to speak of.
- WLFI surged 12.18% to lead the watchlist despite the subdued backdrop, while Morpho extended its recent run with a 4% gain and Lighter fell for a third straight session as profit-taking continues to weigh on the token following its 200% rally between May and early July.
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Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
