The current market structure points toward a potential move to the $71,300 resistance, as there are no major barriers below that could significantly stop the upside move
🔤 But! There’s one important condition — this scenario will only be fully confirmed if we get a daily close above $66,700 today
If we get that confirmation, I’ll be looking for continued upside toward the next resistance at $71,300, where I’ll start watching closely for a potential reversal reaction.
💰 AI has begun competing with Bitcoin not only for attention but also for investors' money.
BlackRock cited the rotation of capital into AI as one of the factors putting pressure on BTC. From October 2025 to July 2026, AI-related funds attracted more than $46 billion, while about $5 billion flowed out of Bitcoin products.
Eight out of 12 indicators are pointing to market capitulation, and all 12 have entered this zone over the past three months.
Analysts believe that capitulation has likely already occurred, and Bitcoin is approaching or is already in an accumulation phase.
Historically, Bitcoin’s bear market phases have lasted an average of 11–13 months. The current downtrend has now lasted 10 months, which is why VanEck identifies September–November as a window for the transition to accumulation.
💰 For more than 10 years, $BTC and global money supply have moved in tandem: growth in M2 has typically supported BTC’s growth.
Currently, M2 has grown by 7.2% over the past year and is at a record high, while BTC is trading around $64,000, having lost 44% over the same period (the divergence has reached 52 percentage points).
The last similar instance occurred in 2021: at that time, BTC plummeted 55% over two months, after which it recovered and set a new all-time high.
The divergence has now lasted 10 months, making it the longest in history.