Is Bitcoin heading for $65K? Sharplink buys $16M ETH: Market Moves
Bitcoin bounced above $61K after hitting a 21-month low near $57,700, helped by a softer tone around Fed inflation and weaker oil. But traders remain cautious: Treasury yields are rising, tech stocks still compete with crypto for capital, and Bitcoin is still down about a third this year. Sentiment is in “Extreme Fear,” while US spot Bitcoin ETFs have seen heavy outflows, including about $4.5 billion in June. Technical and onchain signals also stay weak: Bitcoin closed June down 20.5%, below its 200-week moving average but above realized price, which some analysts say leaves room for a drop toward $52K. At the same time, the market has less leverage after $8.35 billion in Q2 long liquidations, but liquidity is thinner, so renewed selling could still trigger sharp moves. Ether and Solana also rose, and Sharplink resumed ETH buying.
