Fundamental Development:-
Consumer confidence higher among crypto owners than normies
Consumer confidence is considerably higher among crypto owners than the average American adult, with crypto owners sitting 16.4 points higher on the consumer sentiment index. A July 7 report from research firm Morning Consult shows that although average United States (U.S.) adult consumer sentiment has dropped 13.5% since mid-January, confidence amongst crypto owners has held up relatively better, falling only 8.1% over the same period. The research firm said that the discrepancy is partially explained by the fact that the average crypto owner is “more likely to be wealthier, younger and male” than the average U.S. adult. “In recent months, age has been one of the biggest drivers of differences in consumer confidence, as fixed incomes, health risks and memories of past episodes of high inflation in the United States lead older Americans to be more pessimistic,” .The report states that Millennial men who earn at least $100,000 per year are the most likely people to own crypto, though Gen Z adults also show fairly high levels of crypto ownership. Baby boomers and women remain the least likely to hold.
Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $21,600-$22,400 ranges.BTC is made low 21,600 and now consolidating within a range. Yesterday it made high near $21,800 and then it continue to climbed up then made big candle with long wick which is showing that today BTCUSD can show downside move. Bitcoin is struggling to gain momentum above $22,500.
Alternative Scenario: If Bitcoin fails to clear the $22,500 resistance zone, it could start another decline. An immediate support on the downside is near the $20,800 level.