Bitcoin Rebounds as Bulls and Bears Contest Next Move

Bitcoin’s rebound follows a slide toward $58,000 in recent weeks, putting the 200-day exponential moving average at the center of the market debate. Holding that level suggests buyers still see value, while a break could revive the broader decline. The bullish case also draws support from progress on the U.S. Clarity Act, but the 50-day EMA remains below the 200-day measure, leaving the bearish “death cross” intact.

Bitcoin recovered to $66,347 by Wednesday afternoon, July 22, 2026, after trading between $65,488 and $66,698 and slipping about 0.47% on the day. Its RSI stood at 59.9, signaling positive but not overextended momentum, while an ADX reading of 19.5 pointed to weak trend conviction. Dastan-owned prediction market Myriad assigned a 19% chance of Bitcoin topping $68,000 by July 26 and a 64.6% probability of reaching $55,000 before $84,000.