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      Momentum Fades as Bitcoin Struggles to Break Out

      Cryptocurrency
      Summary:

      A deeper correction would likely require a decisive break below that level, potentially accelerating the bearish move.

      Sell BTC-USDT
      End Time
      CLOSED

      109489.4

      ENTRY

      107500.0

      TGT

      111000.0

      SL

      117190.0 +5778.0 +5.19%

      15106

      Points

      Loss

      107500.0

      TGT

      111035.2

      CLOSING

      109489.4

      ENTRY

      111000.0

      SL

      BlackRock’s spot Bitcoin ETF, IBIT, has once again made history by surpassing 700,000 BTC under management—an impressive milestone achieved just 18 months after its launch. According to the fund’s official website, IBIT held 698,919 BTC as of July 3. Following net inflows of approximately 1,510 BTC on July 7, it officially crossed the 700K threshold—right after the U.S. Independence Day holiday—according to data from Coinglass.
      Launched in January 2024 after receiving landmark regulatory approval, IBIT has since grown into the world’s largest spot Bitcoin ETF. It is now BlackRock’s third-highest revenue-generating ETF out of the 1,197 funds it manages and is only $9 billion away from becoming the firm’s top performer, as highlighted by Bloomberg ETF analyst Eric Balchunas. The fund had previously earned the distinction of being the fastest-growing ETF globally.
      Meanwhile, Japan-based Metaplanet continues to execute its bold Bitcoin treasury strategy. The Tokyo-listed hospitality company, which began accumulating BTC in April 2024, has now amassed 15,555 BTC—making it the fifth-largest corporate holder of Bitcoin globally. CEO Simon Gerovich, in a recent Financial Times interview, stated that Metaplanet is committed to acquiring as much BTC as possible before entering its next phase of growth.
      Gerovich described the current moment as a “Bitcoin gold rush” and suggested that the firm could later leverage its BTC holdings as collateral to finance acquisitions of cash-generating businesses. He emphasized the importance of reaching a point of “escape velocity” in Bitcoin accumulation, where competitors would struggle to catch up.
      In a similar move, Michael Saylor’s Strategy (formerly MicroStrategy) announced a $4.2 billion offering of Series A perpetual preferred shares (STRD) with a 10% yield. The funds raised will be used to expand their Bitcoin reserves, support operational liquidity, and pay dividends on existing preferred shares such as STRK and STRF. The announcement was made during a presentation led by CEO Phong Lee and Saylor himself.Momentum Fades as Bitcoin Struggles to Break Out_1

      Technical Analysis

      BTC/USD lost upward momentum after approaching the 109,700 resistance area for the second time, failing to post a new higher high. This inability to break through a key resistance level increases the likelihood of a short-term bearish correction.
      Should Bitcoin close below the 9-period moving average on the 1-hour chart, the market may begin pulling back toward the next local support at 107,400—a zone that has previously acted as a reliable floor. A deeper correction would likely require a decisive break below that level, potentially accelerating the bearish move.
      The RSI is currently hovering near 56, sitting slightly above neutral territory. It has struggled to break above the 63 level, suggesting that bullish momentum may be fading. If the RSI continues to stall while price action remains below 109,700, a pullback could become more probable.
      However, a decisive break above 109,700 could open the door for a renewed bullish push toward the recent high of 110,500 set on July 3. Until then, price action appears indecisive, and the burden is on the bulls to reassert control.
      Trading Recommendations
      Trading direction: Sell
      Entry price: 109500
      Target price: 107500
      Stop loss: 111000
      Validity: Jul 18, 2025 15:00:00
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

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      Analysts

      There are bold traders, and there are old traders, but there are no bold and old traders.

      Rank

      4

      Articless

      302

      Win Rate

      54.28%

      P/L Ratio

      1.29

      Focus on

      BTC-USDT, AUDUSD, EURUSD

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