- Bitcoin price climbed above 66K as ETF inflows extended for five straight sessions.
- Analysts identify 69.3K and 70K as the next major resistance levels.
- Whale accumulation continues supporting Bitcoin price despite ongoing market consolidation.
Bitcoin price traded above $66K after US spot Bitcoin ETFs posted their longest inflow streak since May. At press time, Bitcoin was up 1.12% over the past 24 hours at $66.2K. The latest Bitcoin price recovery has been supported by renewed institutional demand, steady ETF inflows, and continued whale accumulation, while traders closely watch major resistance levels.
According to SoSoValue, spot Bitcoin ETFs attracted $226.9M in net inflows on July 20, extending a five-day buying streak worth more than $727M. BlackRock’s IBIT led with $116.5M, followed by ARKB and Grayscale’s Bitcoin Mini Trust.
Bitcoin Price Faces Major Resistance Near 69.3K
Crypto analyst Ali Charts said the Bitcoin price has repeatedly failed to reclaim the Short-Term Holder Realized Price since November. He identified $69.3K as the next major resistance level where bulls must prove their strength if history repeats.
Meanwhile, Daan Crypto Trades noted that the Bitcoin price remains compressed between the Weekly 200 Moving Average, Exponential Moving Average, and the Bull Market Support Band. According to the analyst, this tightening range often precedes a strong directional move.
He added that weekly closes above 70K could confirm a bullish breakout, while a drop below 55K would strengthen the bearish outlook.
Bitcoin Price Supported by Whale Accumulation
The latest Bitcoin price rebound also coincides with growing demand from whales. CryptoQuant data shows wallets holding between 1K and 10K BTC accumulated roughly 66.7K BTC during the past 60 days, marking their strongest buying activity since February.
Combined with improving Bitcoin ETF inflows, this trend has reduced immediate selling pressure and strengthened market sentiment. However, analysts continue to watch whether the Bitcoin price can sustain momentum above $ 66,000 before attempting a move toward the key $ 69.3K resistance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
