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Bitcoin traders eye September as reversal signals appear
BTC slipped toward local lows near $62,500 after the weekly close, with $64,000 still acting as short-term resistance.
Bitcoin started the week higher as traders braced for macro volatility, but the latest market commentary points to a potential shift in momentum. Cointelegraph reports that one theory suggests the prior bear-market phase could end within the next few months, with a possible bull-market start as early as September.
The bullish timing argument is tied to past four-year cycle comparisons and a view that market makers may move ahead of crowd expectations. Cointelegraph also notes that other indicators are showing reversal signals for the first time since the end of the last bear market in late 2022, though it adds that history has often suggested the bear market is too early to reverse before year end.
Despite the reversal debate, BTC faced sell-side pressure immediately after the weekly close, falling to local lows around $62,500, according to TradingView data referenced by Cointelegraph. The same coverage says the $64,000 area remains short-term resistance, with multiple attempts to break higher failing last week.
Other traders cited a choppy cross-asset backdrop and highlighted ongoing conditions in spot and perpetual markets. Cointelegraph reports that one analyst said order flow shows spot and perps selling and that funding rates are still high, suggesting that some downward pressure could be healthy even as reversal indicators begin to show up.
Latest closeBitcoin $62,968.46 ▼1.2%