Tokyo started a reversal overnight and London squeezed shorts into 64,000. The move flipped Monday's two-sided sweep read: sellers didn't stay in control. Consolidation continues in a tight range capped by 64,000, with the London squeeze wiping roughly two-thirds of yesterday's open interest build. June headline inflation slowed to 3.5%, but the question is whether that's durable as Iran tensions re-escalate and oil climbs.
🔴 July 14, 10:17am ET
Tokyo started a reversal overnight and London squeezed shorts into 64,000. The move flipped Monday's two-sided sweep read: sellers didn't stay in control.
The first two weeks of July bounced price from the 58,000 local bottom. Consolidation continues in a tight range capped by 64,000. Watching for movement beyond the local range boundary in either direction.
The 30-day rolling VWAP is holding as support, with price inside Monday's range. The floor is intact so long as that reference holds.
Price is back inside last week's value area, currently capped by its point of control at 64,000. The POC is the immediate line between continuation up and rejection back into this week's value area.
The London squeeze wiped roughly two-thirds of yesterday's open interest build. The question is whether price extends into the resting sell orders at 65,000 and triggers the remaining short liquidations between here and there.
Robinhood just flipped Ethereum's L1 DEX volume, a fresh narrative tailwind for crypto utility and tokenized real-world assets broadly. Cutting the other way, escalating Iran tensions add uncertainty to the macro backdrop.
June headline inflation slowed to 3.5% as gasoline prices fell. Core (ex food and energy) was broadly flat. A softer read at the print level, but the question now is whether that's a durable trend as Iran tension re-escalates and oil climbs.
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BTC enters Tuesday reversing off Monday's two-sided sweep. Tokyo started the move overnight and London squeezed shorts into 64,000, resolving Monday's uncertain read: sellers didn't stay in control. The first two weeks of July bounced price from the 58,000 local bottom, and consolidation continues in a tight range capped by 64,000. Watching for movement beyond the local range boundary in either direction. The 30-day rolling VWAP is holding as support with price inside Monday's range; the floor is intact so long as that reference holds.
Positioning has flipped constructive. The London squeeze wiped roughly two-thirds of yesterday's open interest build. The question is whether price extends into the resting sell orders at 65,000 and triggers the remaining short liquidations between here and there. Price is back inside last week's value area, currently capped by its point of control at 64,000; the POC is the immediate line between continuation up and rejection back into this week's value area.
The macro backdrop cuts both ways. Robinhood just flipped Ethereum's L1 DEX volume, a fresh narrative tailwind for crypto utility and tokenized real-world assets broadly. Escalating Iran tensions add uncertainty on the other side. June headline inflation slowed to 3.5% as gasoline prices fell, with core (ex food and energy) broadly flat; the question is whether that softer read is a durable trend as Iran tension re-escalates and oil climbs. Tactical reads: a break and hold above 64,000 extends the squeeze into 65,000 and the remaining short liquidations; a rejection at 64,000 with a re-break of the 30-day VWAP pulls price back into this week's value area, with the 58,000 bounce level as the next major shelf below.