Bitcoin (BTC):
After four days of intense declines, Bitcoin rebounded on Saturday, gaining over 4% and reaching around $58,000.
However, on Sunday, bears regained control, erasing Saturday’s gains.
Currently, Bitcoin’s price is almost 13% below the current realized price for short-term investors, signaling a certain level of capitulation.
From a technical analysis perspective, Bitcoin is not in the best formation. The next nearest support level remains around $50,000-$52,0001.
Ethereum (ETH):
Ethereum displayed resilience, trading at approximately $3,091 USDT with a week-on-week increase of 7.3%2.
General Market Trends:
The U.S. 10-year Treasury yield tumbled below the 4% mark due to China’s weaker-than-anticipated trade numbers for July, leading to a 3% uptick in Bitcoin’s price toward $30,0003.