Bitcoin's 200-week moving average has flipped from support to resistance, challenging the bullish July narrative. Global market highlights: US-Iran ceasefire lowers oil prices; gold bears death cross; US PCE methodology revision may artificially depress inflation. US tech stocks see extreme selloff with rotation into defensive sectors; SpaceX to be fast-tracked into Nasdaq 100. In Asia, South Korea boosts semiconductor/AI infrastructure, China's innovative drugs and consumer stocks lead, Hong Kong tech sentiment recovers.
According to MarsBit, Bitcoin's 200-week moving average has turned from support into resistance, casting doubt on the traditional bullish July performance. Key global market developments follow.
Macro & Commodities
The US-Iran ceasefire agreement pushed oil prices lower. Gold formed a death cross (50-day MA crossing below 200-day MA), signaling medium-term weakness. The US PCE methodology adjustment may artificially lower inflation readings, potentially affecting Fed rate path expectations.
US Equities & Sector Rotation
US tech stocks experienced extreme selling pressure, with capital rotating into defensive sectors (utilities, healthcare). SpaceX's fast-track inclusion in the Nasdaq 100 index became a fresh focus for investors.
Asia-Pacific Markets
South Korea ramped up investments in semiconductors and AI infrastructure. In China, innovative drug makers and consumer stocks led the rally, while Hong Kong tech sentiment showed signs of recovery.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
