Bitcoin Price Watch: Is Bitcoin Winding up for a Volatile July Surge?

Key Points

1. Bitcoin is trading at $106,537 on July 1, 2025, with a market capitalization of $2.11 trillion and a 24-hour trading volume of $21.87 billion.

2. Technical indicators show a mixed but cautious outlook, with a downtrend from the recent $108,800 peak and support forming around $106,300.

3. The 1-hour BTC/USD chart displays consistent lower highs and lower lows, with potential short entries around $107,500-$108,000 and near-term support at $106,000.

4. A bearish engulfing pattern has developed, with traders watching for entries in the $102,000–$103,000 range and exits around $108,000–$110,000.

5. Moving averages support a cautiously bullish long-term posture, with longer-period EMAs and SMAs issuing buy signals, reflecting potential support levels.