Bitcoin Eyes $68K-$69K as Traders Look for Range Breakout
Bitcoin's price has been consolidating around $64,000 in recent sessions, following a sharp pullback earlier in July. According to analysts, the cryptocurrency is currently assessing whether it can regain higher levels.
The technical signals remain mixed, but several analysts are watching the $68,000, $69,000 zone as a potential test if Bitcoin can establish a sustained move above nearby resistance.
Recent market data shows that BTC has been trading around $64,000 on July 30, while futures open interest climbed to a two-month high, indicating increased activity in the derivatives market.
The U.S. Federal Reserve left its benchmark interest-rate target unchanged at 3.50%, 3.75% on July 29, which has kept monetary policy relevant to risk-sensitive assets such as Bitcoin.