Bitcoin Breaks $65K: Real Recovery or Bull Trap? | Daily Crypto Deep Dive

Bitcoin has climbed back above $65,000—but is this the beginning of a genuine market recovery, or another bull trap waiting to collapse?

In today’s Daily Crypto Deep Dive, we examine what is really happening beneath Bitcoin’s latest breakout. The price is rising, spot Bitcoin exchange-traded fund inflows have started returning and some analysts believe the June low may already have marked the bottom.

However, the underlying data tells a more complicated story.

Spot trading volume remains weak, aggressive selling has increased, options traders are paying for downside protection and Strategy has raised hundreds of millions of dollars without purchasing any additional Bitcoin.

We analyse the bullish and bearish cases using research and forecasts from Glassnode, Bitfinex, CoinShares, Nansen, Citi and Fundstrat.

Could sustained exchange-traded fund inflows push Bitcoin towards $68,000, $70,000 and eventually $80,000—or could weak demand send the market back towards $60,000 or even Citi’s bearish $53,000 target?

Bitcoin’s breakout above $65,000 Why the June inflation report moved crypto markets Spot Bitcoin ETF inflows and institutional demand Glassnode’s warning about weak spot buying Bitfinex’s $68,000 confirmation level CoinShares’ Bitcoin market-bottom analysis Citi’s $82,000 base case and $53,000 bear case Short liquidations and leveraged trading Why Strategy has stopped buying Bitcoin The difference between a local bottom and a new bull market Our honest verdict on Bitcoin’s latest recovery

The bulls have pushed open the door—but the data has not yet confirmed that they can walk through it.