Bitcoin

Key insight

Bitcoin must hold the $61,400 structural support and reclaim $64,567 channel resistance to avoid an extension toward the $59,070 zone — failure here turns the July rally into a dead-cat bounce.

BTC is trading at $62,858 below its 20-day MA (~$64,000), trapped inside a descending channel with RSI at ~44, and has failed to reclaim the critical $64,567 channel resistance, keeping the medium-term trend firmly negative.

Main risk

Fed Rate-Hike Dissent & US Jobs Data (NFP)

The Fed held at 3.50%–3.75% on July 29 with three officials dissenting in favor of a hike; a strong August NFP print could revive hike expectations and crush risk assets including BTC.