Welcome to the US Cryptocurrency Morning Briefing. We'll briefly summarize today's key cryptocurrency developments.
Prepare your coffee and stay tuned. Analysts say Bitcoin's (BTC) next big move could be closer than expected. As technical signals flash and macro forces shift, analysts are increasingly leaning positive.
Today's Cryptocurrency News, Bollinger Breakout in Focus... Macro Tailwinds Gathering
Bitcoin is receiving new attention from analysts, with Bollinger Bands indicator inventor John Bollinger warning of a potential breakout.
Bitcoin looks to be setting up for an upside breakout. $BTCUSD More as the week gets going.
— John Bollinger (@bbands) July 6, 2025
Bollinger's post suggests technical momentum is building and macro and political developments are aligning with a positive setup.
Nick Puurin, founder of Coin Bureau, believes the passage of Trump's $3.3 trillion Big Beautiful Bill in the US Senate has set the stage for a long-term Bitcoin rise, even if the market doesn't immediately react.
"Trump's 'Big Beautiful Bill' passed the US Senate but didn't trigger an immediate cryptocurrency rally. However, while the market digests its impact, the long-term implications are nothing but positive for Bitcoin." – Nick Puurin, Coin Bureau Founder
According to Puurin, the bill will add trillions to the US debt burden, which recent US cryptocurrency news has positioned Bitcoin as a life raft. Puurin says this could accelerate the US dollar's decline.
"The dollar value decline creates a perfect environment for Bitcoin," he added.
In recent US cryptocurrency news, BeInCrypto reported the Dollar Index (DXY) hitting multi-year lows, occurring alongside the worst start to a year since 1973 and with rate cuts being discussed again.
Puurin sees the environment decisively shifting favorably for Bitcoin, acknowledging that when liquidity doors open, even $107,000 per BTC might feel like a significant discount.
Bitcoin Price Maintains Resistance... Market Eyes Breaking 110,500 Level
Despite growing positive sentiment, Bitcoin remains trapped in a narrow trading range between $107,000 and $110,000. The pioneering cryptocurrency faces immediate resistance at $109,500.
Over the weekend, BTC briefly exceeded $109,000, buoyed by expectations of a new US trade agreement and Elon Musk's supportive statements.
Fiat is hopeless, so yes
— Elon Musk (@elonmusk) July 7, 2025
However, that movement quickly lost momentum due to still-weak market sentiment. The long-term positive setup for Bitcoin remains intact, though spot demand continues to lag.
The pioneering cryptocurrency's price movements reflect tension between strong fundamentals and macro uncertainties.
"Recent spot demand has been decreasing, significantly impacting market sentiment. Bitcoin's broad technical and positive market positioning remains structurally maintained." – Sean Young, MEXC Senior Research Analyst
The next decisive movement depends on macro catalysts. Young points to strong support at $106,500 and psychological defense at $100,000 for Bitcoin.
At the time of writing, BTC is trading at $108,346, up 0.11% in the last 24 hours.
The upcoming US tariff deadline and "Crypto Week" with digital asset bill discussions in Congress could inject volatility and serve as a breakout trigger.
According to MEXC, a clear move above $110,500 supported by volume would "confirm the positive setup and potentially pave the way for a new push."
With macro conditions aligning, analysts predict Bitcoin could reach $125,000 in Q3 and $140,000 by year-end, a modest projection compared to Standard Chartered's previous US cryptocurrency news publication.
"These developments [Bitcoin ETF flows, corporate treasury purchases, potential early Fed chair replacement by President Trump, US stablecoin bill passage] and further evidence of broader sovereign interest will push Bitcoin to new all-time highs around $135,000, potentially reaching $200,000 in Q4." – Jeff Kendrick, Head of Digital Assets Research at Standard Chartered
Today's Chart
The chart below shows the daily timeframe for the BTC/USDT trading pair. Bitcoin is positioned between the middle and upper Bollinger Bands ($111,019), indicating the potential for continued upward trend.
Breaking the upper band could allow Bitcoin to test the all-time high (ATH) of $111,800, potentially setting a new peak.
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| Riot Platforms (RIOT) | $11.49 | $11.40 (-0.75%) |
| Core Scientific (CORZ) | $15.05 | $14.52 (-3.47%) |
