According to The Block, Bitcoin rose above $65,800 on July 22, reaching its highest level in over a month and posting a monthly gain of approximately 2%. Spot Bitcoin ETFs recorded net inflows for the sixth consecutive day, with net inflows of $203 million on Tuesday alone. Spot Ethereum ETFs saw net inflows of $37.5 million on the same day, marking the third consecutive day of positive inflows. Analysts have identified the next key resistance level near $68,000—a confluence zone of short-term holders’ cost basis and the Q2 opening price—where a large number of trapped buyers are expected to break even; the first touch of this level is likely to trigger significant selling pressure.
Bitcoin reaches over a one-month high; $68,000 becomes key resistance level
TechFlowShare
Summary
Bitcoin surged past $65,800 on July 22, reaching a one-month high with a monthly gain of approximately 2%. Spot Bitcoin ETFs recorded a net inflow of $203 million, while spot Ethereum ETFs added $37.5 million. Analysts identify $68,000 as the next resistance level, where trapped buyers could generate selling pressure. A key support level below $65,000 may also test the market’s stability.
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