📢 Gate Square #Creator Campaign Phase 2# is officially live!
Join the ZKWASM event series, share your insights, and win a share of 4,000 $ZKWASM!
As a pioneer in zk-based public chains, ZKWASM is now being prominently promoted on the Gate platform!
Three major campaigns are launching simultaneously: Launchpool subscription, CandyDrop airdrop, and Alpha exclusive trading — don’t miss out!
🎨 Campaign 1: Post on Gate Square and win content rewards
📅 Time: July 25, 22:00 – July 29, 22:00 (UTC+8)
📌 How to participate:
Post original content (at least 100 words) on Gate Square related to
As the weekend approaches, let's take a deep dive into the latest market dynamics of Bitcoin ( BTC ).
On Friday, the cryptocurrency market showed a trend of initially declining and then rising. After Bitcoin touched a low of $114,723 during the day, it began to rebound, which may indicate that buying pressure is building up in the short term.
From a funding perspective, we have observed some positive signs. This week, Bitcoin spot ETFs recorded a net inflow for the first time, with a single-day inflow of approximately $227 million on Thursday, which undoubtedly boosted market sentiment. Another factor worth noting is that if investors expect potential policy changes on August 1 to trigger fluctuations in the dollar, the appeal of Bitcoin as a hedge asset may increase, helping it stabilize near historical highs.
From a technical analysis perspective, the current MACD indicator still shows bearish signals. However, if buying interest continues to flow in at lower levels, we may see the MACD rise towards the zero line. Once the blue line crosses above the red signal line, this will be seen as a potential buy signal.
Investors need to closely monitor the following levels in terms of key price points:
Resistance level above:
- The 100-period Exponential Moving Average (EMA) is at $116,461.
- The 50-period EMA is at 117,843 USD
Support level below:
- The 200-period EMA is at $113,520. If the downtrend continues, this level may become a key support.
It is important to emphasize that the inherent high risks and high volatility characteristics of the cryptocurrency market require investors to remain vigilant. The analysis provided in this article is for reference only and should not be considered as investment advice. Before making any investment decisions, it is recommended that investors conduct thorough research and risk assessment.