Bitcoin and Ethereum Have Rebounded to Intermediate Resistances
By: Alexander Kuptsikevich | Published: Jul 10, 2026
Market Overview
The cryptocurrency market is showing signs of recovery, with the total market capitalization rising to $2.2 trillion after a brief pause. Bitcoin is currently trading around $64,000, while Ethereum is facing resistance at approximately $1,800.
Bitcoin Analysis
Bitcoin has rebounded to the intermediate resistance zone near $64,195, which is significantly below its October high of around $126,000. The cryptocurrency has shown resilience, with increased buying interest during dips to $62,000. Analysts suggest that if Bitcoin can surpass the horizontal resistance at $66,000, it may attract more risk-taking buyers, especially during periods of reduced market liquidity.
Ethereum Analysis
Ethereum is currently trading near $1,772, down from its peak of around $4,000 in November. The coin is testing its 50-day moving average, with resistance at the $1,800 level. A sustained move above this moving average could indicate a short-term bullish trend, while a firm rise above $1,800 would confirm it. However, the previous support level has now become a significant resistance point, complicating Ethereum's recovery.
Market Sentiment and News
Bitcoin has been trading below its realized value of $76,600 for five months, a situation that historically precedes long-term market bottoms. Additionally, liquidity concerns are highlighted by a 21.6% drop in USDC reserves on Binance and abnormal USDT outflows on the Ethereum network, which could increase market volatility.
Michael Selig, Chair of the US Commodity Futures Trading Commission (CFTC), has praised Bitcoin as an "anti-fragile asset" and likened it to commodities like gold and oil. He has urged Congress to expedite the passage of the CLARITY Act to provide clearer regulatory guidelines for cryptocurrencies.
In other news, crypto custodian BitGo is set to launch quantum-resistant Bitcoin wallet tools for institutional clients, enhancing security measures in the crypto space. Meanwhile, trading volume on the Robinhood Chain DEX has surged to a record $564 million, driven by interest in meme coins.