Bitcoin Price Tumbles Below $63K as Seasonal Tailwind Fades

Bitcoin's price has slipped below the 20-day EMA at $63,219 after two failed attempts to hold above $65,000 this week. The cryptocurrency traded at $62,661 on July 17, down 1.74%, and is now facing pressure from the Bollinger midline at $62,578.

ETF inflows have remained positive through the volatility, but the double rejection at resistance raises questions about whether the seasonal tailwind can carry through the final two weeks of the month.

The daily chart shows a horizontal support band near $58,500 aligning with the lower Bollinger Band at $59,075. This band is seen as the floor bulls need to hold if selling extends beyond this point.