Bitcoin hovered close to $64,200 on Monday morning, maintaining a narrow trading range ahead of the Wall Street open. Traders focused on the influence of semiconductor stocks, ETF inflows, and the $62,500 to $65,000 price band, watching to see whether the top cryptocurrency can reclaim higher levels or revisit recent lows.
Bitcoin holds key range before US market open
During pre-market hours, Bitcoin traded around $64,245, according to analyst Ted Pillows. The asset remained locked between support at $62,500 and resistance at $65,000, a range that persisted throughout the weekend after US stock markets declined on Friday.
Ether was stable near $1,872, while XRP hovered at $1.09. These moves occurred while US equity markets were closed, leaving crypto to trade mostly on its own momentum ahead of the new week.
Stock market performance continued to weigh on sentiment. Pillows said the current session will provide the first significant test of the rebound seen over the weekend. “I’m watching the clock this morning, the bounce held the whole weekend, BTC is near $64,200 and the fear gauge has thawed, but the test I flagged is now hours away, not days,” Pillows posted on X, noting his cautious stance before the open because equities had been closed during the crypto rally.
BTC has held above $64,000 following a stock selloff, but the key decision comes as US markets open for the week, according to market participants.
The Crypto Fear and Greed Index rose from 25 to 28, signaling a slight improvement in sentiment but still reflecting lingering caution in the market after the recent downturn in chip stocks.
Semiconductors and equities pressure crypto momentum
On Friday, the S&P 500 fell 1.01%, the Nasdaq Composite dropped 1.4%, and the Dow Jones slipped 0.77%. Analysts attributed much of this pressure to major semiconductor firms after Taiwan Semiconductor Manufacturing Company (TSMC) shared cautious capital spending guidance. The performance of semiconductor stocks has played a growing role in influencing digital asset prices because of the sector’s ties to risk appetite and broader technology trends.
Gold surged to a new high near $4,017, highlighting persistent risk-off sentiment. Meanwhile, US 10-year Treasury yields remained unchanged at roughly 4.55%, with real yields close to 2.31%.
Ted Pillows highlighted that Bitcoin’s price action is increasingly correlated with the Nasdaq. If semiconductors stabilize, he observed, Bitcoin could have room to rise toward $65,000. However, renewed selling in equities might drag prices back toward the lower end of the range.
Mini dictionary: TSMC (Taiwan Semiconductor Manufacturing Company) — A multinational semiconductor contract manufacturing firm based in Taiwan, recognized as the world’s largest and leading chip foundry supplying global technology companies.
If the stock market weakness resumes, Bitcoin could come under renewed pressure, increasing the risk of a move below $62,500 support.
| Asset | Friday’s Performance | Current Level |
|---|---|---|
| S&P 500 | -1.01% | – |
| Nasdaq Composite | -1.4% | – |
| Dow Jones | -0.77% | – |
| Gold | + New high | $4,017 |
| Bitcoin | – | $64,200 |
| Ethereum | – | $1,872 |
| XRP | – | $1.09 |
ETF inflows and Fed blackout keep crypto traders wary
Bitcoin ETFs logged four consecutive days of net inflows as of Friday, led by the iShares Bitcoin Trust (IBIT), which added $132.3 million on the last reported day. Ethereum ETFs also returned to positive inflows after seeing outflows a day prior.
Pillows also noted the impact of the current Federal Reserve “blackout period” ahead of the Federal Open Market Committee (FOMC) meeting scheduled for July 28-29. With no official Fed commentary to steer rate expectations this week, attention turns to stock market developments and ETF flows. Bitcoin open interest remained close to $48.5 billion, with minimal liquidation activity over the weekend.
This combination keeps the immediate outlook uncertain. If Bitcoin maintains support above $62,500, the next resistance to watch is $65,000. Should selling pressure return at the open, traders may see a renewed test of lower support levels.
Mini dictionary: Fed blackout period — The time ahead of each Federal Reserve meeting when central bank officials refrain from public statements about monetary policy decisions to avoid influencing markets.
ETF inflows remain positive, but with the Fed silent and equities under pressure, traders are closely monitoring Bitcoin’s ability to hold its current range heading into the week.
