Bitcoin climbed above $60,000 at the start of July. Traders cited in the source expect a relief rally to remain the base case for the month.
Bitcoin climbed above $60,000 at the start of July. Traders cited in the source expect a relief rally to remain the base case for the month.
The return to $60,000 matters because it places Bitcoin back above a closely watched price threshold. It also supports traders’ expectations that the market could stage a relief rally during July.
Bitcoin opened July with a rally above $60,000, marking a strong start to the month. The move came as the US dollar pulled back after testing a weekly high.
The return to $60,000 matters because it places Bitcoin back above a closely watched price threshold. It also supports traders’ expectations that the market could stage a relief rally during July.
Those traders view a relief rally as the base case for the month, according to the source. That outlook describes the most likely scenario they currently see, rather than a guaranteed result.
Bitcoin’s early-July advance and the dollar’s rejection from its weekly high provide the immediate market backdrop. Whether the move develops into a sustained monthly recovery remains unresolved.
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