Bitcoin Breaks $64K as Death Cross Keeps Macro Bearish
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- Bitcoin cleared the $64K resistance mark Tuesday, tagging a daily high of $65,511 before settling at $64,858 — flat on the day, down just 0.18% on the forming candlestick
- A death cross remains intact (50-day MA trading below the 200-day MA), the aggregate indicator score sits at -36%, and BTC is only about 5% above the descending trend channel drawn from May highs near $82,000
- The June PPI report came in below expectations, with producer prices falling 0.3% month-over-month on a gasoline-driven collapse, pushing July Fed rate-hike odds from 31% last week to 12.3% per CME FedWatch
- The ADX reads 23.4 — below the 25 threshold for a confirmed trend — and is transitioning from Di- (bearish) to Di+ (bullish); RSI sits at 55.7, neutral to slightly bullish with room before overbought territory at 70
- Myriad prediction market traders price 66.6% odds Bitcoin dumps to $55K against 33.4% on a pump to $84K — a roughly 2-to-1 lean that has not moved with the price swing
- Eric Trump, son of the US President, is publicly shilling Ethereum, cited as another sign crypto is drawing interest from wealthy and politically connected investors
Why it matters: A 5% slip from $64,858 pulls BTC back into the descending trend channel from its May ~$82,000 highs and re-confirms the death-cross structure; with Myriad's crowd holding 2-to-1 odds against any near-term return to $84K, the macro resistance above this breakout is backed by actual capital positioning, not just chart-reading.
