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Bitcoin targets $80,000 by August as bulls defend $61,000 support
A trader highlighted BTC/USD holding crucial support near $61,000 and flipping moving averages to support further upside, with nearby levels at about $63,500 to $63,800 and $67,000 plus flagged for whale-driven liquidity.
Bitcoin price calls are turning bullish again, with crypto trader and analyst Michaël van de Poppe saying BTC/USD is defending what he considers crucial support and pointing to potential upside toward August. Cointelegraph reported that van de Poppe cited BTC holding the key $61,000 level and flipping important moving averages into support, signaling momentum could return.
The market levels being watched next include an area where exchange order-book liquidity may pose hurdles, Cointelegraph noted. It said van de Poppe’s first upside target aligns with liquidity levels around $67,000 and above, while support sits mainly between about $63,500 and $63,800.
Despite the bullish framing, some commentators questioned whether the recent move has the strength to sustain gains. Cointelegraph included warnings that thinning spot-market volume raises doubts about the durability of the latest rally, with one analyst likening it to a potential failed breakout above a value area.
The broader backdrop cited by Cointelegraph centers on upcoming macro catalysts before the Federal Reserve’s end-of-month rate decision. It said QCP Capital suggested that near-term US inflation data, followed by follow-on earnings and macro validation, could improve risk sentiment and spill over into digital assets as investors rotate from lagging areas.
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