July 10 $BTC Comprehensive Market Analysis



🤯 News Front:

Macro pressure persists: U.S. macro data, geopolitical factors, and low summer liquidity impact risk assets. Recent events such as Satoshi-era whale sell-offs have increased volatility, but also show some old holders taking profits at high levels and exiting.

ETF & Institutional Dynamics: The ETF outflow trend eased in early July, with +$221 million net inflow recorded on July 2 and +$265.7 million on July 6. However, slight outflows appeared on July 8-9. June saw heavy outflows overall, while July shows a fragile rebound.

Other catalysts: Trump-related statements, employment/inflation data expectations, etc. continue to influence market sentiment. The overall news front is neutral to bearish, but there is no risk of a systemic crash.

🤯 Capital Front:

ETF inflow recovery: Several consecutive days of positive inflows in early July, with demand from dominant institutions like BlackRock picking up, indicating some capital positioning at lower levels. However, overall is still dragged by heavy June outflows, and institutional behavior remains cautious.

Derivatives & On-chain: Funding rates are low/negative, showing leveraged longs are cautious or being squeezed. Recent 24h liquidations total ~$200 million+, with BTC dominating part of the liquidations. On-chain whales are still accumulating, declining exchange supply supports the price floor, but retail/short-term holder pressure exists.

🤯 Technical Front:

Bitcoin, as we expected yesterday, is about to form a "mid-air refueling" pattern on the daily chart, facing resistance near the zero line. The daily rebound hasn't ended yet. Next, focus on whether the 64,400 level can hold and stabilize; if it does, it will challenge around 66,000.

Currently, resistance at all levels is placed near 64,400. Breaking above creates upside space. In the short term, the uptrend continues with higher highs and higher lows. Next, watch whether the 15-minute level of 63,400 can hold; if it does, it will continue upward.

From the current perspective, the intraday trend will be mainly oscillating upward.

Support: 63,400 - 63,000
Resistance: 64,400 - 66,000
ETH1.79%
BTC2.18%
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