The cryptocurrency market is ready to follow the buyers.
BTC climbed to $66256 on Tuesday, gaining 2.20% over the past 24 hours and 5.56% over the week.
BTC is testing the upper boundary of the descending channel formed on June 5. The 65530–65600 area remains the key resistance zone. A breakout above it has already opened the way toward 66184, followed by 68869. The nearest support is located around 63745.
The focus is now on the ADP employment report due at 15:15 Moscow time. Strong labor market data would support the US dollar and Treasury yields, increasing pressure on risk assets. Markets currently see an 84.5% probability that the Federal Reserve will leave rates unchanged on July 29 and roughly a 55% chance of a rate hike in September.
Bitcoin’s recovery is supported by ETF inflows, but without sustained spot demand, further gains will continue to depend on investors’ broader appetite for risk.
The total cryptocurrency market capitalization reached $2.25 trillion. Bitcoin accounted for 58.9% of the market, while Ethereum’s share stood at 10.3%.