Bitcoin Stalls as Ethereum Flashes Worst Weekly Signal in Years: Analysis
DECRYPT ·
Bitcoin fell 2.89% this week, closing at $61,749 after failing to break resistance in the $64–65K range—the key zone bulls needed to reclaim to change the short-term narrative. Ethereum confirmed a weekly death cross for the first time in years, with its 50-week EMA now below its 200-week EMA, and prediction market traders now pricing a 72.3% chance ETH hits $1,500 before it sees $3,000 again. The broader crypto Fear & Greed Index sits at 23 (extreme fear), spot Bitcoin ETFs just ended a 10-day, $2.7 billion outflow streak. The crypto market enters the second week of July in rough shape. Bitcoin is holding on, but just barely, in the low $60,000s after briefly touching 21-month lows under $58,000 last week. Ethereum is below $1,750, down around 4% on the day, and more than 30% in the last year. The broader market is down, of course, and altcoins are down harder. The total crypto market cap excluding BTC and ETH shed 30% since January. Crypto IPOs—Gemini, Bullish, BitGo—have imploded since their debut.
DYAX Investor Sentiment
Bullish (Long) 49% · Bearish (Short) 51%
549 participants
Related News
- 'What Not To Do'—A Bitcoin Miner Bets Against AI's Giant Data Centers
- Ripple Receives Full MiCA CASP Authorisation in Europe
- Paradigm Raises $1.2 Billion Fund for Crypto, AI and Robotics
- Paradigm Raises $1.2 Billion Fund as Crypto VC Pushes Further Into AI
- Our approach to government and national security partnerships
- Network Partitions and Chain Recovery: How Blockchains Recover from Temporary Network Splits