Bitcoin rose 8.8% last week to conquer the psychological barrier of $60,000, indicating solid buying at lower levels. CoinShares data shows that Bitcoin witnessed inflows of $1.35 billion, the fifth largest weekly inflows on record. Bitcoin was not alone as even Ethereum products saw inflows of $72 million in anticipation of the launch of the first spot Ethereum exchange-traded fund (ETF) in the US.

Bitcoin-stacking investment firm Metaplanet has purchased another 21.88 Bitcoin — worth over $1.2 million (200 million Japanese Yen) — amid the recent Bitcoin rally that has seen prices reach nearly $65,000. According to its latest July 16 purchase statement, the Japan-based firm’s Bitcoin holdings now total 225.6 Bitcoin, valued at $14.6 million.

Bitcoin jumped above the 20-day SMA ($59,522) on July 14, indicating that the bearish momentum is weakening. The bulls will try to strengthen their position by pushing the price above the $64,602 overhead resistance. If they succeed, the BTC/USDT pair will likely pick up momentum and reach the $72,000 to $73,777 resistance zone.

On the contrary, if the price turns down from $64,602, it will suggest that the bears are selling on rallies. The pair could then pull back to the 20-day SMA. If the price turns up from the 20-day SMA, it will signal a change in sentiment from selling on rallies to buying on dips. That will improve the prospects of a break above $64,602.

Lastly please check out the advancement’s happening in the cryptocurrency world

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