Crypto market breaks above the 50-day MA: Bitcoin eyes $73–74K

The crypto market capitalisation rose by 3.5% to $2.22T, reaching a three-week high, following the release on Tuesday of weak US inflation data, which showed inflation slowing at its fastest rate in the last six years, thereby reducing the likelihood of a Fed rate hike. The market has risen above its 50-day moving average, signalling one of the first indications of a shift towards a medium-term bullish trend. Among the most popular coins, the top performers over the last 24 hours were Zcash (+8.8%), Chainlink (+5.2%) and Ethereum (+4.9%). Meanwhile, among the laggards, there was also a very moderate pullback, with losses for IOTA (-1.7%), Internet Computer (-0.8%) and Theta Network (-0.4%).

Bitcoin is trading near $65K following an impressive surge on Tuesday, which helped it close above the 50-day moving average and the upper boundary of the downward channel in place since early June. This is a strong signal of a potential trend reversal, further supported by fundamental data: lower inflation figures. Provided the leading cryptocurrency does not face obstacles in the form of deteriorating geopolitical conditions, the next significant resistance level may not be reached until $73–74K. This is where the downward momentum originated in early June, and it is also where the 200-day moving average is located.

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Crude Oil: Emotions are running high

Fear is driving the Crude oil market again.

The decline in global stocks is making the ‘black gold’ market more vulnerable.

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🇺🇸 US Pre-Market: Mostly Positive 📈

The US stock market is showing positive momentum in pre-market trading.

In the Information Technology sector, Microsoft (MSFT) is up 0.84%.

In the Communication Services sector, Meta Platforms (META) is up 0.62%.

In the Consumer Discretionary sector, Amazon (AMZN) is up 0.67%, while in the Consumer Staples sector, Walmart (WMT) is up 0.22%.

In the Health Care sector, Eli Lilly (LLY) is down 0.38%, while Johnson & Johnson (JNJ) is down 2.36%.

The prevailing gains among major companies point to risk appetite and emerging risk-on conditions. In this environment, demand for the dollar as a safe-haven asset is limited, and its performance remains neutral and subdued with no clear momentum toward appreciation.

Chainlink Wave Analysis – 15 July 2026

- Chainlink broke resistance zone

- Likely to rise to resistance level 8.62

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⚠️ Canada — Overnight Rate at 03:00 GMT

✔️ Prev: 2.25%

🕒 Exp: 2.25%

🎯 Fact.: 2.25%

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Zcash Wave Analysis – 15 July 2026

- Zcash broke resistance level 528.75

- Likely to rise to resistance level 674.00

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⚠️ USA — Federal Reserve Chairman Warsh Testifies at 14:00 GMT

AUDUSD Wave Analysis – 15 July 2026

- AUDUSD broke resistance level 0.6960

- Likely to rise to resistance level 0.7050

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⚠️ Canada — BOC Press Conference at 14:30 GMT

Dow Jones Wave Analysis – 15 July 2026

Dow Jones: ⬆️ Buy

- Dow Jones reversed from support zone

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🗓 Economic Calendar at 2026/07/17 (GMT)

12:30 🇺🇸 Unemployment Claims — Exp: 217K Actual: 208K

12:30 🇺🇸 ⚡️ Retail Sales — Exp: 0.2% | 0.0% Actual: 0.2% | -0.2%

12:30 🇺🇸 Philly Fed Manufacturing Index — Exp: 12.7 Actual: 41.4

14:00 🇺🇸 Pending Home Sales — Exp: -0.5% Actual: -5.4% | -0.3%

01:00 🇺🇸 ⚡️ President Donald Trump Speaks


[Updated in real time]

⚠️ UK — Gross Domestic Product at 03:00 GMT

✔️ Prev: -0.1% | 0.8%

🕒 Exp: 0.0% | 0.5%

🎯 Fact.: 0.1% 📈 | 0.7% 📈

The Pound: From Outsider to Favourite

• Rumours of a less profligate Treasury than expected have boosted GBPUSD.

• The US dollar is falling as the likelihood of monetary tightening by the Fed has diminished.

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Crypto market at $2.23T: a bullish pause above the 50-day MA

The crypto market has stabilised at levels around $2.23T, remaining there for the second day running. The market is in a fairly bullish consolidation above the area of previous local highs and the 50-day moving average, signalling a smooth transition to a bull market: without dizzying rallies, but with a steady upward trend. The major cryptocurrencies are generally holding their ground, while there is a greater tendency towards profit-taking among the weaker altcoins. The top gainers over the past 24 hours were Theta Network (+2.3%), Stellar (+1.9%) and Zcash (+1.8%). The biggest fallers were Bitcoin Cash (-5.6%), Aave (-3.1%) and Polkadot (-2%).

Bitcoin has settled down, consolidating above $64K and the 50-day moving average, but lacks the momentum to break through $65K. This lull is not yet a cause for concern. The market is likely geared towards cautious buying of the leading cryptocurrency at current levels, forming a bottom that could hold for many months or even years to come. As always, there is a risk of a sudden sell-off amid financial market shocks, which could send BTC or global stock indices into a tailspin, but waiting for such moments is a thankless task. In such conditions, buying in a quiet market at less than half of peak levels looks like a perfectly reasonable tactic for the coming days or weeks.

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⚠️ USA — Retail Sales at 03:00 GMT

✔️ Prev: 1.0% | 1.0%

🕒 Exp: 0.2% | 0.0%

🎯 Fact.: 0.2% | -0.2% 📉

🇺🇸 US Pre-Market: Mixed 📊

Mixed trading is prevailing in the US stock market pre-market, with a moderate upward trend driven by the largest technology companies.

In the Information Technology sector, NVIDIA (NVDA) is down 1.76%, Apple (AAPL) is up 0.36%, while Microsoft (MSFT) is up 0.93%.

In the Communication Services sector, Alphabet (GOOGL) is up 0.40%.

In the Health Care sector, Johnson & Johnson (JNJ) is up 0.70%, while Merck (MRK) is up 1.10%.

The market is in a moderately risk-on mode, with major technology and pharmaceutical companies trading higher, supporting interest in risk assets. For the dollar, this implies a neutral backdrop, as demand for safe-haven dollar instruments is limited.

▶️ Oil. Rise

Today is Thursday, the 16th of July, and let's talk about the oil market.

There's been a change in the scenario, a shift to an alternative one.

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⚠️ USA — President Donald Trump Speaks at 01:00 GMT

🗓 Economic Calendar at 2026/07/18 (GMT)

12:30 🇺🇸 Building Permits — Exp: 1400K Actual: 1367K | -3.0%

12:30 🇺🇸 Housing Starts — Exp: 1310K Actual: 1427K | 19.0%

13:15 🇺🇸 Industrial Production — Exp: 0.2% Actual: 0.1%

14:00 🇺🇸 UoM Consumer Sentiment — Exp: 51.0 Actual: 54.4


[Updated in real time]