Veteran trader Peter Brandt signalled he would bet on a bitcoin decline, saying downside odds look higher even though he has not taken a position. He pointed to a large head-and-shoulders pattern formed from April to June and a break below a neckline around $75,000 that preceded a fall under $60,000, with a chart target near $58,000. Analysts also flagged levels needed for a short-term rebound as whale selling continues.

Bitcoin climbed above $66,000 to its highest level in a month, reaching $66,306 on Bitstamp, Cointelegraph reported. After repeatedly facing resistance near $65,000, it kept rising, with some in the market targeting $67,000 and again citing $70,000 as a psychological barrier. Traders pointed to higher resistance at $67,500 to $68,000. Liquidations rose, while options demand appeared into late July as markets watched the Federal Reserve.