Bitcoin and the wider crypto market have historically rallied in July, but traders are worried that the Mt. Gox repayments could impact the strength of this trend. The bears' failure to sink Bitcoin below the support of the $56,552 to $73,777 range has started a recovery. In a range, the price generally swings between the support and the resistance. The price action in the middle is random and volatile.

Stablecoin issuer Circle has received the green light to operate in the European Union under the sweeping MiCA framework. According to a July 1 announcement, Circle co-founder and CEO Jeremy Allaire said USD Coin and EURC are now compliant with MiCA rules.

Bitcoin’s tight range trading resolved to the upside with a break above $62,500 on June 30. The bulls are trying to strengthen their position further by pushing the price above the $64,602 resistance. If they succeed, the BTC/USDT pair could reach the 50-day SMA ($66,476) and later attempt a move to $72,000. The bears are expected to vigorously protect the $72,000 to $73,777 zone.

If the price turns down sharply from $64,602, it will suggest that the bears are trying to flip the level into resistance. The pair may descend to $60,000 and then to $56,552. A sharp rebound off this zone will suggest that the pair may extend its stay inside the range for a few more days.

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

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