Bitcoin Bounces to $66,208 as 200-Day EMA Holds; 64.6% of Traders Bet on Drop to $55K by July 26

According to market data from Myriad and technical analysis, Bitcoin bounced to $66,208 on July 22 after the 200-day exponential moving average held support following a crash to the $58,000 range in recent weeks. The daily death cross—50-day EMA below 200-day EMA—remains active on the chart, signaling ongoing bearish pressure. The Relative Strength Index (RSI) stands at 59.9, above the neutral 50 level with room to run upward, while the Average Directional Index (ADX) at 19.5 indicates weak trend momentum.

On the prediction market Myriad, 64.6% of traders are pricing in a decline to $55K before a rally to $84K, reflecting broader risk aversion. The Coinbase Premium Index, which tracks whether U.S. institutional buyers are paying above global prices, has been negative since May, suggesting institutional caution is macro-driven rather than crypto-specific.