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Bitcoin (BTC) consolidated near two-week highs into Sunday’s weekly close as traders geared up for fresh market turbulence.
Key points:
<ul>
 <li>Bitcoin approaches its highest levels in two weeks, but Mondays have been "terrible" for BTC price action, a trader warns.</li>
 <li>BTC/USD is in the process of deciding the fate of its 200-week moving average.</li>
 <li>Crypto market analysis sees "greener shoots" on the back of the latest US macro data.</li>
</ul>
<h2 id="trader-past-seven-mondays-absolutely-terrible-for-btc-price">Trader: Past seven Mondays "absolutely terrible" for BTC price</h2>
Data from TradingView showed BTC/USD focusing on $62,700, the site of a <a href="https://cointelegraph.com/markets/bitcoin-price-tags-623k-nine-day-high-after-global-stocks-hit-historic-record" rel="noopener noreferrer nofollow">key long-term trend line</a>, the 200-week simple moving average (SMA).<img alt="" height="818" src="https://s3-images.ctmedia.io/media/content/btcusd2026-07-0518-53-29.png" width="1134">
BTC/USD four-hour chart with 200-week SMA. Source: Cointelegraph/<a href="https://www.tradingview.com/symbols/BTCUSD/" rel="noopener noreferrer nofollow">TradingView</a>
 Bulls managed a trip to $63,450 on Saturday amid thinner exchange order books and a three-day US holiday weekend.
“Seeing stronger passive supply here pressing price from above,” commentator Exitpump wrote in their <a href="https://x.com/exitpumpBTC/status/2073727767871369600" rel="noopener noreferrer nofollow">latest analysis</a> on X.<img alt="" height="1428" src="https://s3-images.ctmedia.io/media/content/hmdcobbwsaajrjd.jpeg" width="2814">
BTC order-book data. Source: Exitpump/X
 Trader Daan Crypto Trades flagged short position liquidations as the price gained, with data from <a href="https://www.coinglass.com/liquidations" rel="noopener noreferrer nofollow">CoinGlass</a> putting the 24-hour crypto total at $167 million.
“Classic short squeeze, price grinds higher into a level everyone's shorting until forced covering does the rest,” he <a href="https://x.com/DaanCrypto/status/2073687730622488669" rel="noopener noreferrer nofollow">commented</a> on X.&nbsp;
<blockquote>
 “Now the question is whether $62.6K (Weekly 200MA) holds as support or if this was just liquidity getting cleared before rolling over again.”
</blockquote><img alt="" height="511" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-07-05-at-184840.png" width="1375">
BTC/USD vs. crypto liquidation history (screenshot). Source: CoinGlass
 Fellow trader Killa had a word of warning, reiterating that the past seven Mondays had seen major price weakness.
“7/7 Mondays have been absolutely terrible for $BTC,” they told X followers.&nbsp;
<blockquote>
 “Will we repeat the exact same pattern next week?”
</blockquote>
<blockquote class="twitter-tweet"><a href="https://x.com/KillaXBT/status/2073785402029130236" rel="noopener noreferrer nofollow">https://x.com/KillaXBT/status/2073785402029130236</a>
</blockquote>
<h2 id="bitcoin-etfs-contribute-to-crypto-s-greener-shoots">Bitcoin ETFs contribute to crypto's "greener shoots"</h2>
In a <a href="https://www.qcpgroup.com/insights/qcp-market-colour-28/" rel="noopener noreferrer nofollow">new analysis</a> published on Friday, trading company QCP Capital eyed potential tailwinds forming for crypto and risk assets.
Related: <a href="https://cointelegraph.com/markets/bollinger-bands-creator-eyes-bitcoin-bear-market-end-w-shaped-reversal" rel="noopener noreferrer nofollow">Bollinger Bands creator eyes Bitcoin bear-market end, 'W'-shaped reversal</a>
These included <a href="https://cointelegraph.com/markets/bitcoin-ether-extend-relief-rallies-as-extreme-fear-meets-renewed-etf-buying" rel="noopener noreferrer nofollow">renewed net inflows</a> to the US spot Bitcoin exchange-traded funds (ETFs).
As <a href="https://cointelegraph.com/markets/bitcoin-returns-to-62k" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, last week’s US nonfarm payrolls report came in below anticipated levels, sparking a softening in hawkish expectations of interest rate hikes by the Federal Reserve.
“The clearest dovish tell was a 2% pop in gold, though that reads more as a real-rate and safe-haven hedge than growth conviction,” it acknowledged.&nbsp;
<blockquote>
 “Crypto, though, is showing greener shoots: BTC spot ETFs snapped a six-session outflow streak to pull in $224mn on Thursday, their first positive print in over a week and an early sign that dip buyers are stepping back in after roughly $2.4bn of redemptions.”
</blockquote><img alt="" height="730" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-07-05-at-184544.png" width="1147">
Fed target rate probabilities for July 29 FOMC meeting (screenshot). Source: CME Group
 The latest data from CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow">FedWatch Tool</a> saw a near-80% chance of the Fed holding rates at current levels at its July 29 meeting.
QCP added that before then, conducive Consumer Price Index (CPI) inflation data would be needed for “broader confirmation of a front-end dovish repricing.”

Bitcoin nears $63.5K into weekly close as trader warns of 'terrible' Monday

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