updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Bitcoin is hovering near the $71,000 mark, consolidating after recent swings as the market digests key liquidity zones. While price remains contained, underlying technical signals suggest a larger move may be brewing, with both upside breakouts and downside sweeps on the horizon.
Crypto analyst Columbus highlighted Bitcoin’s resilience following a successful bounce from its channel boundary support. This technical reaction has allowed the price to grind steadily higher, reclaiming the $71,000 level. While the explosive momentum has begun to decelerate after that first reaction, the overall market structure remains decidedly constructive for the bulls as long as this newly reclaimed territory is defended as support.
According to the MMT Heatmap, the path toward further upside is clearly defined by a significant stack of liquidity resting just above the current price. A sustained push through the immediate overhead supply would effectively clear the way for a continuation move toward higher liquidity clusters concentrated around the $75,000 to $76,000 region.
However, the analysis also cautions that the current level is a precarious battleground for the asset. Should Bitcoin fail to maintain its footing above this support region, the market would likely undergo another sweep into lower liquidity pockets to find sufficient buying interest before any meaningful attempt at higher expansion.
Ultimately, the short-term outlook hinges on whether the current support holds or if the slowing momentum leads to a structural failure. For now, this area is key to determining if the market is preparing for a breakout toward the mid-70s or a temporary retreat.
BTC is consolidating in the mid-range, according to Lennaert Snyder’s post on X. The market recently experienced a range breakout, which effectively acted as a push-to-fill on Bitcoin, moving the price toward key liquidity zones.
Snyder is already positioned short, but he is prepared to add to his position on the next weekly candle if the price pushes into the fair value gap (FVG) around $72,400. This level represents a potential trigger zone for further downside, aligning with his bearish strategy.
He plans to short the bearish market structure break (MSB) when the conditions above are met, targeting the liquidity around the $65,580 low. While lower prices are possible, he intends to manage risk carefully and will be roughly 80% positioned at that level.
For long positions, Snyder cautions that BTC is trading mid-range and is currently exhausted from the recent drop. Thus, he is waiting for significant liquidity to be mitigated at the range low or for higher time frame (HTF) levels to be gained before considering any new long entries.
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HBAR has reversed its earlier gains this week, dropping 6.43% in the last 24 hours and settling at $0.1679. The altcoin’s short-lived rally of 13% failed to overturn a month-long downtrend.
Investors remain cautious, with technical indicators now pointing towards sustained bearish pressure.
Key metrics like the Chaikin Money Flow and Squeeze Momentum Indicator suggest HBAR could face significant volatility ahead.
Unless buying interest returns quickly, the asset risks slipping further towards the $0.154 level in the near term.
One of the clearest signals of HBAR’s faltering momentum comes from the Chaikin Money Flow indicator.
The CMF has now crossed into negative territory, suggesting that capital outflows are exceeding inflows.
This metric, which reflects buying and selling pressure, implies that investor confidence in HBAR’s short-term recovery is weakening.
Market participants are becoming increasingly cautious as trading volumes fail to support a rebound.
The earlier 13% price increase that briefly took HBAR out of its slump has been undone, with traders failing to follow through with sustained buying.
Without a shift in sentiment or a clear catalyst to spark demand, the coin’s price may remain under downward pressure.
At current levels, HBAR risks losing support at $0.163—a critical zone that, if breached, may result in steeper losses.
Volatility is another major concern for HBAR. The Squeeze Momentum Indicator (SMI), which helps traders anticipate sharp price moves, has formed black dots over the past 48 hours.
This pattern typically suggests that a “squeeze” is developing, meaning a breakout—upward or downward—may be imminent.
As of now, the SMI bars remain red, reinforcing the bearish tone. However, traders are closely watching for a shift to green, which could signal a bullish reversal.
Until such a shift occurs, the indicator suggests that HBAR may continue to experience selling pressure.
The importance of this squeeze lies in its potential to trigger a large move in price.
Given the lack of current momentum and the negative readings from both CMF and SMI, the odds favour a downward move unless sentiment shifts decisively.
If the trend continues, HBAR could test lower levels around $0.154.
The overall market structure for HBAR remains bearish.
Despite the temporary recovery earlier this week, the token has failed to exit the broader downtrend that has gripped it for over a month.
Price action shows a consistent inability to break past the $0.172 resistance level, a key point that analysts believe must be overcome for any bullish sentiment to return.
The next few trading sessions are crucial. A move above $0.172 would invalidate the current downtrend and may attract fresh buying.
In that scenario, HBAR could reclaim higher levels near $0.180 and potentially target $0.188.
However, without strong buying support, that outcome looks unlikely for now.
For now, the bearish indicators—negative CMF, red SMI bars, and failed breakout attempts—suggest that HBAR’s path of least resistance remains downward.
Unless the market sees renewed interest or a favourable external event, HBAR could continue facing headwinds in the coming days.
HBAR’s immediate support lies at $0.163, a level that has held up in recent sessions.
A break below this threshold may expose the token to losses towards $0.154, intensifying the current downtrend.
On the upside, resistance remains at $0.172, followed by $0.180 and $0.188. Only a decisive move past these levels will mark a potential reversal and allow bulls to regain control.
It is worth mentioning that this is not the first time the SEC and Chair Gensler have faced scrutiny from US politicians.
In a surprising turn of events, United States Representative Tim Burchett has proposed an amendment that seeks to drastically reduce the salary of the Securities and Exchange Commission (SEC) Chair, Gary Gensler, to a mere $1 per year. This bold move is part of a broader effort to defund the SEC, as outlined in the Financial Services and General Government (FSGG) bill.
As it stands, Gary Gensler is estimated to earn about $300,000 per year for his responsibilities at the helm of the SEC. The proposed amendment by Rep. Burchett, however, is aimed at bringing down this annual compensation to just $1, signaling a significant reduction in the head of the SEC’s salary. This move has been met with a mixture of surprise, support, and criticism.
The FSGG bill, where this amendment was introduced, is a comprehensive piece of legislation designed to cut government spending across multiple agencies. While the SEC’s funding is a specific focus, the bill also targets various other government agencies that are perceived to have become bloated and excessively burdensome on the federal budget.
Womack argued that the SEC, along with other agencies, had strayed from their primary mandates, causing a disservice to the American people. His proposal suggests that defunding the SEC could help limit the regulator’s intrusiveness and steer it back toward its core mission.
Womack stated:
“Specifically, we turn off rulemakings at the Securities and Exchange Commission that lack proper cost-benefit analysis and aggregate impact analysis.”
The proposed changes are aimed at fostering more responsible and accountable regulation while ensuring government resources are directed to agencies that prioritize their core objectives.
It is worth mentioning that this is not the first time the SEC and Chair Gensler have faced scrutiny from US politicians. On June 12, United States Representatives Warren Davidson and Tom Emmer introduced the SEC Stabilization Act, a bill aimed at removing Gensler from his position as the SEC Chair.
The bill proposed redistributing the power within the agency by creating an executive director position and adding a sixth commissioner, ensuring no one political party holds a majority sway.
Davidson and Emmer have been vocal critics of Gensler’s leadership, accusing him of being a “bad faith regulator” and expressing concern about his handling of the crypto industry. They claim that Gensler has disproportionately targeted the crypto community with enforcement actions while failing to address more significant issues within the financial sector.
Additionally, Gensler was reportedly asked to appear before Congress for allegedly promoting Algorand (ALGO) despite his hard-boiled stance against crypto assets. In light of the video footage showing Gensler promoting ALGO and later referring to it as a security, critics label the SEC Chair a hypocrite.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.