Bitcoin touched $65,484 on July 23, according to Coinbase and TradingView data, sitting roughly 50% below its all-time high of $125,000 set in October 2025. The market is drifting sideways, and analysts are drawing hard lines in the sand.
What traders are watching
Maxime Seiler, co-founder and CEO of STS Digital, puts the first real hurdle at $67,000-$68,000. Clear that range, he says, and $70,000-$72,000 becomes the next target before August. On the downside, $60,000 is where he sees the floor holding, for now.
Julio Moreno, Research Director at CryptoQuant, lands in similar territory: $64,000 as near-term support, $72,000 as meaningful resistance. His figures come from on-chain cost-basis data, not just chart patterns, which gives them a bit more weight in a market where sentiment shifts fast.
Tim Enneking of Psalion takes a more cautious read. He thinks Bitcoin may have built a solid base at $60,000 after months of chop, but he stops short of ruling out a final leg down comparable to the 2022 bear market wipeout.
Beyond the charts, all three analysts are pointing at the Fed. The Federal Reserve meets July 28-29, and the rate decision plus any signal from Jerome Powell could be the actual trigger that pushes Bitcoin through or under its current range. Spot ETF inflows are the other variable worth tracking: steady buying from institutional products has cushioned previous dips, and any reversal there would change the picture quickly.
This article is for informational purposes only and does not constitute financial or investment advice.
