Bitcoin Treads Water at $65,000 Amid AI Stock Slump and Fed Decision Looms

Bitcoin traded near $65,000 on July 27, showing relative strength despite weakness in artificial intelligence-related technology stocks. Ether also touched its highest level in about two months, with some analysts viewing this as a bullish signal for the broader crypto market.

Nikolai Sondergaard, senior research analyst at Nansen, disagreed, saying the market was merely holding in a range without strong buying pressure and was not yet moving toward a breakout. He noted that if market conditions do not improve, Bitcoin could pull back to a range of $52,000 to $58,000.

Joel Kruger, market strategist at LMAX Group, said the recent resilience crypto has shown during a volatile stretch for traditional risk assets is encouraging and supports the argument that digital assets are starting to decouple from traditional risk assets. He added that Bitcoin needs to break above $67,300 for the next upward phase to come into view, while Ether needs to clear $2,000 resistance.