Bitcoin jumped 15% in two weeks, climbing from a July 1 low near $58,000 to above $65,000, a level that had rejected every rally attempt since mid-June. The move is the fastest and cleanest BTC has looked since spring, and the timing lines up with a single macro trigger: June CPI came in softer than expected, killing the case for another near-term Fed rate hike almost overnight. Risk appetite flipped, and Bitcoin was one of the first assets to feel it.
The inflation print wasn't the only thing working in bulls' favor. The wave of bad news that had been dragging price lower dried up around the same time. Rumors about Michael Saylor trimming his Bitcoin position had spooked the market earlier in the month, but nothing concrete materialized, and sentiment quietly reset. Weekly Bitcoin ETF inflows were running above $1.3 billion, signaling that institutional buyers were accumulating through the dip rather than heading for the exits.
Regulatory noise helped too. A revised version of the Crypto Clarity Act has been circulating on Capitol Hill, and Circle received approval to establish a national trust bank, giving the stablecoin space a more solid legal footing. For funds that need regulatory cover before committing capital, that kind of news matters more than any price chart.
On the technical side, the 2-hour structure is straightforward. BTC carved out a base through late June and early July, put in a higher low at $58,000, and drove straight into the resistance band at $65,000. RSI on the lower timeframes pushed toward 67 and is still pointing up, which suggests genuine buying pressure rather than a short squeeze running on fumes. The next real test is $67,300, the lower high printed on June 15. That's the level skeptics are watching. Until bulls clear it, the "just a bounce" crowd will keep their hand raised. Below everything, $58,000 is the floor that keeps the broader structure intact.
July has historically been one of Bitcoin's stronger months, and the calendar was quietly on the bulls' side the whole time the market was grinding sideways.
This article is for informational purposes only and does not constitute financial advice. Crypto assets are volatile; always do your own research before making investment decisions.
