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Bitcoin holds key support near $66K despite active death cross
Bitcoin is trading around $66,208 after the 200-day EMA held following a drop into the $53K to $54K range, while a death cross remains active on the daily chart.
Bitcoin is rebounding and holding a key technical support area, trading around $66,208 after the daily 200-period exponential moving average held as a floor following a move down into the $53,000 to $54,000 range, according to Decrypt. The article says the so-called death cross, where the 50-day EMA is below the 200-day EMA, is still active on the daily chart.
Decrypt also highlights that traders are watching for a potential shift toward a “golden cross” if the death cross starts to thin, while noting Bitcoin recently tested lows near $58,000. The piece describes a nearby support area around $65,000 that held as Bitcoin steadied near $66,208, down 0.47% on the day, with a tight 24-hour range.
On sentiment, Decrypt cites prediction market positioning from Myriad, saying 64.6% of traders bet Bitcoin hits $55,000 before $84,000. The story links the mixed setup to persistent institutional caution, pointing to a negative Coinbase Premium streak since May and describing it as a sign of risk aversion driven by macro conditions rather than a clear deterioration in crypto-specific fundamentals.
The outlet also connects near-term market positioning to U.S. policy expectations, saying Treasury Secretary Scott Bessent told lawmakers the Clarity Act is at the “1-yard line” and urged Congress to pass it before the August 7 recess. Decrypt frames this as a supportive counterweight to the bearish technical signals still visible on the daily chart.
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