CoinDesk·3 min read·medium
Crypto catches its breath as bitcoin settles into a holding pattern amid July rally
O
Oliver Knight
✦AI Summary
Bitcoin is currently trading in a sideways pattern after failing to break the $66,000 resistance level following a recent rally. The broader crypto market remains stagnant as investors await clearer macro-economic signals, with altcoins showing mixed performance.
The price action reflects a market catching its breath. Bitcoin has rallied more than 13% since its July 1 low of $57,750, and after failing to convincingly break above the $66,000 level of resistance on Tuesday, the path of least resistance in the short term appears to be sideways rather than sharply in either direction.
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