Bitcoin Breaks $64,300: The $60,000–$70,000 Zone Becomes the Third Most Active Trading Range in History, Momentum Turns Green
Bitcoin has just delivered a performance that is capturing the attention of the entire crypto industry. On Thursday, July 10, 2026, the leading cryptocurrency reached a new three-week high of $64,300 on Binance, sparking a measured but tangible wave of optimism among technical analysts. At the time of writing, BTC is trading around $63,950, while ether (ETH) hovers near $1,791, according to Binance data recorded at 6:00 p.m. UTC. This upward move occurs within a particular macroeconomic context, driven by several catalysts that now seem to be aligning in favor of digital assets.
The $60,000–$70,000 Corridor Enters the History Books
The most striking piece of news from this day is undoubtedly the ascent of the $60,000–$70,000 range to the status of the third most traded price zone in bitcoin’s history. After 307 consecutive days of consolidation within this range, the accumulated trading volume in this corridor now surpasses that of virtually all other price ranges, with the exception of two major historical zones. This phenomenon carries immense significance for technical analysis: a range that has been so heavily traded constitutes a support zone of rare strength. Each transaction executed within this range represents a point of agreement between buyers and sellers. When the price returns to a zone where enormous volumes have already changed hands, the probability of a significant reaction increases considerably.
The 307 days spent within this corridor are not trivial. They reflect a gradual maturation of the market and a silent accumulation that has smoothed out volatility excesses. Unlike narrower ranges that often precede explosive upward or downward movements, this $10,000-wide corridor has provided a playing field large enough for both institutional players and retail traders to place substantial volumes without triggering a sudden imbalance. The fact that this zone has become the third most traded in bitcoin’s entire history is a strong structural signal: it indicates that the market has built, brick by brick, a foundation capable of absorbing significant shocks.
The Momentum Gauge Flashes Green
A second notable technical signal has strengthened the bullish thesis: the momentum gauge, a composite indicator followed by many analysts to assess the underlying strength of a move, has turned green. This change in status comes after several weeks of neutral signals that left the direction uncertain. When the momentum gauge turns green, it does not merely confirm the ongoing rise: it signals that market conditions are now favorable for the move to continue in the same direction, with a statistically higher probability of new highs in the medium term.
This signal is all the more significant because it occurs after a prolonged consolidation period that has filtered out weak positions. The most commonly used momentum gauges in bitcoin’s on-chain and technical analysis incorporate several dimensions: price dynamics, exchange flows, active address activity, and market sentiment data. A simultaneous green light across all these subcomponents is a relatively rare event worth highlighting. In the past, comparable signals have often preceded prolonged upward phases, although no correlation is ever perfect for an asset as volatile as bitcoin.
Selling Pressure on Coinbase Eases
A third factor favors a continuation of the upward move: selling pressure on Coinbase, one of the main U.S. exchange platforms, is markedly decreasing. Flow data shows that bitcoin outflows to exchanges—often interpreted as a sign of imminent selling—have slowed significantly in recent days. Conversely, withdrawals from Coinbase to cold storage have increased, suggesting that long-term holders are regaining confidence and choosing to hold their positions rather than liquidate them.
This development is crucial in the current dynamic. Throughout most of the spring and early summer of 2026, persistent selling pressure on Coinbase acted as an invisible ceiling, preventing bitcoin from durably breaking above the $65,000 level. Every breakout attempt was met by selling flows that pulled the price back into the range. The easing of this pressure could therefore remove a major mechanical obstacle and allow bitcoin to test price zones that have remained unexplored for several months.
Macroeconomic Catalysts: The Chip Rally and the Yen
Beyond technical signals, two macroeconomic catalysts are supporting bitcoin’s move. The first is the rally in technology stocks, particularly in the semiconductor sector. Shares of chip manufacturers have experienced remarkable gains in recent weeks, driven by strong demand prospects in artificial...
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