Bitcoin Price Forecast: Double Top Caps BTC Near $62,550 as ETF Flows Turn

Quick overview

Bitcoin is currently hovering in the mid-$60,000s on July 13, 2026, a level that sits at roughly 50% of its highs recorded at the end of 2025. Even though sellers are currently controlling price action at $62,578 following a double top on the 4-hour timeframe, renewed ETF buying in early July suggests the market correction might be winding down. To truly flip the bias, bulls must secure a closing price above $63,731; conversely, if the price slides under $61,190, a continued decline in this asset looks inevitable.

ETF Flows Flip Positive After June’s Record Exodus

Bitcoin ETFs saw a dramatic reversal in June and July. It has never been worse for spot Bitcoin ETFs in the United States than in June, when outflows topped $4.5 billion in the net amount and pressured Bitcoin price to the downside. However, in early July, the IBIT and others saw fresh money come in after the trend change occurred. Inflows to this day from these instruments’ launch are strongly positive, and the June redemptions look more like taking profits than investors leaving the market.

Macro and Network Signals

Institutions and corporate treasuries are adding even more support. Strategy, and a growing number of public companies now own hundreds of thousands of BTC, as reserves are driving up market scarcity. The Fed, under Kevin Warsh, is likely to maintain higher rates for longer to fight sticky inflation, strengthening the US dollar and putting more pressure on riskier assets, including Bitcoin. The US-Iran interim deal reduced the geopolitical risk premium slightly, opening some room for market recovery.

In the meantime, Bitcoin’s underlying network health remains strong. The Hash Rate is close to all-time highs, long-term BTC holders (HODLing more than 5 years) barely touched their positions, and Lightning is seeing rapid expansion. The regulatory landscape is more about CLARITY Act progress than a Bitcoin upgrade.

Bitcoin 4H Technical Analysis: Double Top in Focus

Bitcoin is $62,578 after the formation of a double top near the recent highs and a series of lower highs and lower lows in this process. The price is still comfortably above both the EMA50 ($62,324) and EMA100 ($62,265), which have successfully supported any price retracement during the period and serve as the last dynamic support against a steeper correction.

There is weak buy pressure at present. RSI at 38.33 indicates weak buy pressure without being overbought, suggesting that there is still some room for Bitcoin price to fall further. MACD histogram is stabilizing but stays negative, implying weak buy signal (not yet strong enough).

Bitcoin is in a weak structure, with the breakout of resistance levels being the only real bullish signal. Resistance lies at $63,731 with the neckline of the double top and a previous supply area, followed by $64,528 and the strong $67,379 area if the neckline level is cleared. Support lies at $61,190, followed by $60,712 and the more meaningful $58,095.

Bitcoin Price Forecast and Key Levels

The best approach to play this trade is to buy Bitcoin only when there is a confirmed breakout of $63,731 and then go long to profit with a profit target of $64,528 and $67,379 and a stop loss below $61,190. Should we fail to clear resistance, I expect a drop to $61,190 and $60,712. It bears noting that nothing has fundamentally changed, with scarcity, the strength of the network, and growing institutional demand being the fundamental drivers supporting Bitcoin. At this moment, however, we just seem to be consolidating, and we will see if the buying into Bitcoin ETFs will be able to overcome a double top.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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