Bitcoin Stalls as Ethereum Flashes Worst Weekly Signal in Years: Analysis
Crypto markets remain weak in early July. Bitcoin is hovering in the low $60,000s after briefly falling below $58,000, while Ethereum trades below $1,750 and has confirmed a weekly death cross. Altcoins and the broader market are under heavier pressure, with crypto sentiment near extreme fear. Bitcoin shows a mixed setup: bearish trend strength remains intact, resistance near $64K–$65K held, and indicators like ADX and RSI still favor sellers. Still, the weekly 50-week EMA remains above the 200-week EMA, preserving a long-term bullish structure for now. ETF inflows have returned after a long outflow streak, and long-term holders are accumulating again. Ethereum looks weaker technically. The weekly death cross signals a more entrenched downtrend, with key support near $1,500 and limited bullish confirmation until price reclaims $2,000. Both assets are in panic-selling territory, but oversold conditions and extreme fear are also historically contrarian signals.
