Here’s a more concise and refined rewrite with a sharp newswire tone:
Bitcoin rises above $62,000 as upward momentum builds
Bitcoin has pushed past $62,000, reaching an intraday high of $62,170 and gaining about 0.75% over the past 24 hours.
CoinDesk 20 posts first three-day winning streak since mid-June
Crypto markets are edging higher during the U.S. holiday, with the CoinDesk 20 Index advancing for a third consecutive session—its longest run since mid-June. The index is up 1.61% since midnight UTC, bringing total gains to 7.36%. All components are trading higher, though bitcoin is among the more modest performers, while NEAR leads with a 6.1% rise.
Smaller-cap tokens are showing stronger momentum. The CoinDesk 80 Index has climbed 2.3%, with only a minority of assets declining. Decentraland, SPX6900 and Celestia have each rallied more than 10%.
Easing macro pressures may turn ETF flows positive
Bitcoin ETF outflows could reverse in July as macroeconomic conditions improve, according to Sygnum Bank strategist Can-Luca Köymen. Lower oil prices and easing inflation are reducing pressure on the Federal Reserve to maintain aggressive policy tightening.
Recent Fed signals and a softening labor market suggest rate hike expectations may continue to decline. Meanwhile, on-chain data shows long-term holders accumulating and large investors buying dips—patterns often associated with market bottoms.
With bitcoin still below its 200-day average and previous cycle highs, current levels may offer an attractive entry point. Sygnum expects inflows to resume gradually, with a potential boost from regulatory developments such as the upcoming CLARITY Act hearing.
Bitcoin heads for strongest week since April but faces resistance
Bitcoin is on track for its best weekly performance since late April, up nearly 4% so far. However, it has posted only three weekly gains in the past ten weeks.
While holding above $60,000 support, bitcoin remains below its 200-week moving average near $62,660, a key technical barrier.
Bitcoin rebounds as semiconductor momentum fades
Bitcoin is recovering as the rally in semiconductor and memory stocks begins to cool. Sector-focused ETFs that led gains earlier this year have recently declined, signaling a potential shift in capital.
The Roundhill Memory ETF has dropped roughly 25% from its late-June peak, while the VanEck Semiconductor ETF is down about 12%. Over the same period, bitcoin has rebounded from below $58,000 to above $61,000.
Weak U.S. jobs data supports crypto and metals
A weaker-than-expected U.S. jobs report has reduced expectations for near-term rate hikes. The economy added just 57,000 jobs in June, far below forecasts.
Markets now anticipate the Federal Reserve will hold rates steady through September, with a possible hike delayed until October. This shift has supported risk assets and commodities, lifting bitcoin above $61,000, alongside gains in gold and silver.
Bitcoin remains below key long-term trend level
Despite its recent recovery, bitcoin continues to trade below the 200-week simple moving average near $62,660, a level widely viewed as critical for confirming a sustained bullish trend.
Renewed spot ETF demand is supporting prices, but a decisive breakout is needed to strengthen the bullish outlook.
Loss-making supply overtakes profit, hinting at potential bottom
Data shows around 10.83 million BTC are currently held at a loss, exceeding the 9.22 million in profit. This shift underscores the depth of the recent correction and mirrors conditions seen near previous cycle lows.
Historically, such phases have marked periods of capitulation followed by accumulation by long-term investors. Bitcoin is trading near $61,361, posting modest gains, though still significantly below prior highs.
Future price direction will likely depend on continued ETF inflows and improving macroeconomic conditions.
