- US spot Bitcoin ETFs logged $181M in inflows Tuesday, led by BlackRock’s IBIT at $139M, with no single fund recording outflows.
- June CPI fell 0.4% month-over-month versus an expected -0.1% decline, driving BTC’s strongest single-session gain in weeks.
- Glassnode identifies $57,000 to $63,000 as the ideal bottom-formation range, with long-term holder selling at its fastest pace since late 2022.
Bitcoin trades at $64,692 on July 15, climbing after a softer-than-expected inflation reading sent price through the 20-day EMA and drew the largest single-day ETF inflow in weeks. Eight consecutive weeks of outflows that stripped more than $4B from US spot Bitcoin funds have ended, though the 50-day EMA and a descending resistance line sit directly overhead, making the next 48 hours the most important technical test since the June breakdown.
BTC Cleared Its 20-Day EMA And Now Faces The 50-Day Dead Ahead
The daily chart shows BTC reclaiming the 20-day EMA at $63,223 and pressing into the 50-day at $65,091, with a descending resistance line converging near that same level. Price pushed to $65,235 intraday before pulling back, leaving the 50-day EMA and Bollinger upper band at $66,030 as a stacked resistance cluster between $65,091 and $66,030. Clearing both on a daily close is what shifts the chart from recovery to trend reversal.
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The Bollinger midline at $62,252 and the 20-day EMA at $63,223 now form the support zone directly below. The lower Bollinger band at $58,475 aligns with the horizontal support level from the June lows, defining the floor bulls need to hold if this attempt fades.
What Are The Key Support And Resistance Levels For BTC Today?
- Support at $63,223 on the 20-day EMA and $62,252 on the Bollinger midline
- Resistance at $65,091 on the 50-day EMA and $66,030 on the Bollinger upper band
- Key floor at $58,475 on the lower Bollinger and the June support zone
BlackRock Drove Nearly All Of Tuesday’s ETF Bounce
US spot Bitcoin ETFs pulled in $181M on Tuesday after shedding $425M the day prior. BlackRock’s IBIT accounted for $139M of that figure, Fidelity’s FBTC added $21M, and not a single fund recorded outflows on the session.
The reversal ended a streak that had seen more than $4B leave the category over eight weeks, arriving on the same day BTC posted its sharpest daily gain in recent weeks.
A Cooler CPI Print Changed The Fed Calculus Overnight
The Consumer Price Index fell 0.4% month-over-month in June against an expected decline of just 0.1%, reducing the probability of a Fed rate hike at the next policy meeting and lifting risk appetite across markets.
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Bitcoin gained 2.3% to $64,300 on the release while Ethereum outpaced it with a 5.4% move, showing the rotation toward higher-beta crypto assets that typically follows a dovish macro surprise.
What On-Chain Data Suggests About Where BTC Stands In Its Cycle
Glassnode places the current bottom-formation range at $57,000 to $63,000, noting that long-term holders are realizing losses at the fastest rate since late 2022, a pattern that has historically marked the final stages of capitulation rather than the start of a new decline.
FRNT Financial’s Stephane Ouellette described this week’s ETF inflows as “green shoots” while stopping short of calling a trend reversal. Tagus Capital struck a similar tone, arguing the return to positive flows builds a cautious price floor rather than a springboard for an immediate rally.
Bitcoin Price Prediction: Upside and Downside Targets
- Upside case: BTC closes above the 50-day EMA at $65,091 and the Bollinger upper band at $66,030, ETF inflows extend through the week, and the Fed hold narrative supports a grind toward the 100-day EMA at $68,466.
- Downside case: The 50-day EMA and descending resistance line reject price, BTC slips back below the 20-day at $63,223, and the rally fades toward the Bollinger midline at $62,252 as the CPI pop gets sold into.
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