Trader maintains $67K BTC price target: Five things to know in Bitcoin this week
Bitcoin starts the week holding major support around $63K after a brief drop to $63,700, with traders eyeing a short-term rebound toward $65K–67K. BTC has now closed three straight weeks above the 200-week SMA, though it still remains below the 200-week EMA near $68.5K, keeping price stuck in a choppy $60K range. Some indicators still show bullish divergences, but cycle models and seasonality argue that broader bear-market conditions may persist. Macro risks are rising as US-Iran tensions lift oil prices and key tech earnings approach, while markets still mostly expect a Fed rate cut in September. On-chain data remains mixed: spot demand has weakened again, making the rally fragile without stronger spot buying, even as ETF inflows improved last week. Miner stress is easing, but the Puell Multiple does not yet signal a generational bottom. Sentiment is recovering modestly, with the Crypto Fear & Greed Index rising to 29, its highest since early June.
