Bitcoin nears 63000 amid increased liquidity igniting optimism for a potential 40 surge in BTC price

Bitcoin (BTC) targeted $63,000 on July 2, amid growing focus on broader liquidity shifts.
In the 1-hour BTC/USD chart from TradingView, BTC price dynamics aimed to solidify gains following the monthly closure. Despite struggles to breach significant resistance levels above $64,000, optimism surged among Bitcoin traders as July commenced.
Renowned analyst Rekt Capital reflected on global liquidity’s impact, stating, “You love to see it.”
Data from Cointelegraph Markets Pro and TradingView illustrated BTC’s upward trajectory, with Rekt Capital noting a breakout from June’s downtrend in his updates on X (formerly Twitter).
Highlighting the monthly close as a bullish indicator, Rekt Capital projected building a foundation to propel towards the Range High around $71,500 in due course.
Meanwhile, trader Daan Crypto Trades underscored the influence of US dollar liquidity trends, critical for crypto market dynamics as reported by Cointelegraph. He stated, “BTC price movements have largely mirrored USD Liquidity during this period,” supported by a comparative chart.
Market analyst Cole Garner suggested that recent Federal Reserve liquidity adjustments could exert immediate influence on BTC price vigor. “Witnessed the sharpest Fed Net Liquidity rate-of-change spike in 15 months,” he observed.
Technical indicators, particularly Bollinger Bands, indicated heightened Bitcoin volatility on weekly timeframes, potentially signaling major breakout opportunities, according to analyst Matthew Hyland.
This article does not offer investment advice. Each investment and trade carries risks, necessitating individual research before decisions.