Bitcoin has tested $63K after a short-term rebound from the late-June low near $58,000 to $59,000. The asset traded near $62,675 on July 5, according to crypto.news market data.
The rebound follows U.S. spot Bitcoin ETF inflows that returned and helped BTC recover near $61,700. However, traders are cautious as the price remains close to the weekly 200MA of $62,600. A failure to hold this level could bring attention back to $60,000 and the late-June low area.
Analyst BATMAN points out that Bitcoin is still inside a daily falling wedge while the RSI shows a bullish divergence. This may indicate that bearish pressure is fading, but it's too early to confirm.