Bitcoin is approaching a critical $66,600 resistance level, which forms the neckline of an inverse head-and-shoulders pattern developing since the June lows. A decisive breakout and sustained move above this level could confirm the bullish reversal pattern and potentially push BTC toward its measured target of around $76,000. Traders are closely watching this area for confirmation, while failure to break the neckline could lead to another pullback. #BTC #Write2Earn $BTC
Bitcoin fell near $63,500, down over 0.5% on the day and nearly 2% for the week, as U.S. inflation data matched expectations. July inflation rose 0.1% monthly and 3.4% annually, while core inflation eased to 2.5%, reducing September Fed rate-hike odds to about 38%. HYPE gained over 3%, while most major cryptocurrencies declined, including DOGE, XRP, BNB, SOL and ETH. Markets now await Jackson Hole, the Sept. 4 jobs report and Sept. 11 inflation data. #Write2Earn! $BTC
Metaplanet transferred 3,881 BTC worth around $247 million to external wallets, raising concerns about possible selling pressure. However, the company has not confirmed any sale, and the move could simply be related to custody or internal wallet management. With Metaplanet reportedly holding around 43,000 BTC at an average purchase price of $96,191, investors are closely watching the destination of these coins for signs of the company’s next move. #BTC #Write2Earn
Bitcoin rose above $65,000, gaining nearly 3% over the week as weak U.S. jobs data eased concerns about further Federal Reserve rate hikes. Ethereum also gained around 3%, while Solana led major altcoins with nearly 5% weekly gains. XRP was the exception, falling 4% over the week. Broader markets remained supportive, with global stocks and semiconductor companies gaining, while rising oil prices and a stronger dollar added some pressure. Bitcoin also faced crypto-specific risks, including Coldcard wallet attacks, a BTCPay Server vulnerability, and a recent chain split. The next major catalyst is U.S. inflation data, which could strengthen or weaken expectations for future Fed policy and determine Bitcoin’s next direction.
$XRP remains under pressure after a sharp decline and several days of extreme volatility, with bearish sentiment growing among traders. Data from Kalshi shows increased bets that XRP could retest the $1 level in August after recently falling near $1.02, with around $13,374 in prediction-market volume. Despite the bearish outlook, XRP has started showing signs of recovery, gaining about 1.61% over the past 24 hours. If buyers can maintain this momentum, XRP could avoid another major decline and challenge the growing bearish expectations. #Write2Earn! #xrp