Two things happened this week that changed how I'm thinking.
First, that weak US jobs report sent a clear signal. Less chance of a Fed rate hike means more breathing room for risk assets like crypto.
Then, I saw the institutional flow data. June was rough, worst month ever for demand. But the big whales were absorbing it all, a divergence that often pops up near cycle bottoms. Interesting, right?
So, here's my read. IF we see this macro sentiment continue, with more capital potentially shifting from AI stocks back into digital assets, I'm expecting
$BTC to push higher.
We just saw
$BTC at $62576.01 today. If it can break above its recent high of $62979.86 and hold, that's my signal to look for long entries, targeting a move towards higher resistance zones. My stop-loss would be placed firmly below the $61510.01 low to manage risk.
But IF that capital shift doesn't happen, and institutional demand stays weak, then we might see
$BTC consolidate or even retest lower supports. If it fails to hold $61510.01, I'd be looking to lighten positions or even consider short opportunities, aiming for lower support levels.
For me, the first scenario feels more likely. The contrarian signals on
$XRP with its MVRV hitting historical lows also makes me think a bounce is due for alts.
$XRP is currently at $1.1400, showing decent momentum.
Overall, I'm feeling cautiously optimistic. Keep an eye on the macro and those institutional flows.
#CryptoOutlook #BTC #Alts #MarketAnalysis #Bullish