Bitcoin<\/a> traded near $62,675 on July 5, according to crypto.news market data. The asset was up about 0.1% over 24 hours and 4.03% over seven days. Its market cap stood near $1.26 trillion, while 24-hour volume was about $17.57 billion.<\/p>\n \n Summary<\/span>\n <\/p>\n <\/p>\n The latest 24-hour range showed Bitcoin moving between $62,462 and $63,383. That kept BTC close to the $63,000 area after a short-term rebound from the late-June low near $58,000 to $59,000.<\/p>\n Michael Saylor added to the wider market discussion with a short post on X, saying<\/a> \u201cBitcoin is Digital Energy.\u201d The comment came days after he argued that Bitcoin\u2019s long-term role depends on capital markets, credit and institutional adoption.<\/p>\n <\/p>\n Trader Daan Crypto Trades said Bitcoin shorts were cleared twice as price moved toward $63,000 on July 4. He called the move a \u201cclassic short squeeze,\u201d where sellers are forced to close positions as price rises into a crowded short zone.<\/p>\n $BTC<\/a> Shorts taken out twice as price moved towards $63K+ on July 4th.<\/p>\n Classic short squeeze, price grinds higher into a level everyone’s shorting until forced covering does the rest.<\/p>\n Now the question is whether $62.6K (Weekly 200MA) holds as support or if this was just\u2026 pic.twitter.com\/1BbwOL6yMa<\/a><\/p>\n \u2014 Daan Crypto Trades (@DaanCrypto) July 5, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n He also raised doubt over the next move, asking whether \u201c$62.6K (Weekly 200MA) holds as support\u201d or whether the move only cleared liquidity before another pullback. That level now sits near the center of the short-term Bitcoin debate.<\/p>\n Crypto.news reported<\/a> that Bitcoin had already rebounded near $61,700 after U.S. spot Bitcoin ETF inflows returned. The report said BTC needed to reclaim $62,800 and $65,000 to confirm stronger bullish momentum.<\/p>\n That framework remains useful as price trades near $63,000. Holding above the weekly 200MA may support the recovery, while a failure could bring attention back to $60,000 and the late-June low area.<\/p>\n Analyst BATMAN said<\/a> Bitcoin remains inside a daily falling wedge while the RSI shows a bullish divergence. In simple terms, price made lower lows, but momentum did not fall with the same force.<\/p>\n The analyst said this may show that bearish pressure is fading. He also pointed to the $67,500 to $71,000 area as a bearish imbalance above current price, where Bitcoin may seek liquidity if a confirmed breakout occurs.<\/p>\n The daily BTC\/USDT setup shows a short-term recovery after the bounce from the $58,000 to $59,000 zone. The latest daily candle was slightly red near $62,700, showing hesitation after the rebound.<\/p>\n The Parabolic SAR sits below price near $58,126, which keeps the short-term structure supportive. A move below that area would weaken the recovery and bring sellers back into focus.<\/p>\n The MACD has improved. The histogram is positive near 589.52, and the MACD line is above the signal line. This shows that bullish momentum has returned after the recent bounce.<\/p>\n Still, both MACD lines remain below the zero level. That means the wider trend has not fully turned bullish. It shows recovery momentum, not a confirmed trend change.<\/p>\n Volume also remains low at about 4.24K BTC on the chart reviewed. That limits confirmation behind the rebound. For a stronger move, Bitcoin would need higher volume and a clear break above the $63,000 to $65,000 resistance zone.<\/p>\n source: TradingView<\/p>\n The downside levels remain clear. Bitcoin must hold $62,600 to keep the short-term squeeze alive. Below that, traders may watch $60,000, then the $58,100 to $58,500 zone near the Parabolic SAR and recent lows.<\/p>\n Saylor\u2019s \u201cdigital energy\u201d post fits his wider Bitcoin view. Crypto.news recently reported that Saylor has called for balance<\/a> between adoption, innovation and stability as companies, banks and governments build around Bitcoin.<\/p>\n\n
Shorts cleared near $63K<\/strong><\/h2>\n
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Falling wedge keeps breakout hopes alive<\/strong><\/h2>\n
Momentum improves, but volume stays weak<\/strong><\/h2>\n
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<\/figure>\nSaylor\u2019s Bitcoin view meets market caution<\/strong><\/h2>\n