Things aren’t exactly stacking up in Bitcoin’s favor lately, but surprisingly the asset is holding its ground better than many anticipated for now 🖤.
Capitulation Far From Over 💀
Just consider the fresh strikes between Iran and the US that restarted tensions, MicroStrategy dumping over 3500 BTC, signs of serious miner exhaustion, AI pulling funds away from crypto, those Bitcoin ETFs losing over 8 billion dollars across two months, plus the Fed holding rates firm and yet BTC stays above 60000.
While the coin has shrugged off much of that external weight so far a fresh technical setback just hit. Analyst Ted Pillows flagged that the real bottom still lies ahead based on past cycles and sketched targets dipping below 50000 or even 45000.
Ali Martinez highlighted the rejection at 64000 noting it might spark a sharper short term slide under 60000 or down to a fresh multi year low at 56550.
Bitcoin $BTC is getting rejected at the top of its channel.
This could trigger a pullback toward $59,700, with $56,550 as the next downside target. pic.twitter.com/GvI9fMFQbD
— Ali Charts (@alicharts) July 8, 2026
Asian Demand Flashing Recovery Signals 🌙
Another voice on X known as CW pointed to the Kimchi Premium showing demand returning in Korea after lingering at negative 2 percent for the longest stretch in five years.
The reading has now climbed to negative 0.835 percent hinting that the bearish phase could be nearing its end especially if it crosses into positive territory soon.
The $BTC Kimchi Premium Strategy indicator is showing a positive trend.
The Kimchi Premium has also decreased from -2% to -0.835%.
The longest period of negative Kimchi Premium in the last 5 years is being maintained. However, the end of the bearish trend is approaching. pic.twitter.com/Bivsx4wRqS
— CW (@CW8900) July 8, 2026
Just another echo from the void by iconofsin.eth 💖
