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Bitcoin shows bullish signs with whale buying and ETF inflows, may break $66K to start new uptrend.

Technical Signals
04 Aug 2026
FXEmpire
View Source
Bullish
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Bitcoin is consolidating between $60,000 and $66,000 with positive signs emerging despite recent challenges like a Coldcard wallet hack and geopolitical tensions. Bitcoin ETFs saw net inflows of $172 million in July, the first positive month in three, while whales purchased 30,000 BTC worth over $200 million in early August. A bullish inverse head and shoulders pattern is forming, suggesting a potential breakout above the $66,000 neckline that could lead to a retest of the 200-day moving average, signaling a possible new bullish cycle. However, risks remain from Federal Reserve policies and legislative uncertainties like the Clarity Act in the US.

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