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Bitcoin hovers around $60K with a “W” double‑bottom pattern flagged by John Bollinger and fresh spot ETF inflows, signaling a possible end to the bear market.
Bitcoin is trading just above the reclaimed $60,000 level, where John Bollinger – the inventor of Bollinger Bands – identified a classic “W” double‑bottom that could, if the neckline breaks, end the downtrend that has persisted since October 2025 [1].
| At a glance | |
|---|---|
| Price | ≈ $60,000 |
| Recent move | Reclaimed $60K after prior dip |
| Catalyst | Bollinger’s “W” pattern + first spot ETF net inflow in 10 days ($220 M) |
| Institutional flow | $220 M net into US spot Bitcoin ETFs |
Bollinger posted a daily chart showing Bitcoin’s price hugging the lower Bollinger Band and forming two swing lows with a rejected rebound – the hallmark of a “W” reversal. He notes the pattern is “perfectly fractal,” with smaller “w” shapes at each nadir and a small “m” at the apex on the weekly chart. The critical test, he says, is a break above the midpoint (the “neckline”) between the two lows; a confirmed close there would “break” the prevailing downtrend [1].
Analyst Axel Adler Jr. of CryptoQuant highlighted the first net inflow into US spot Bitcoin ETFs in ten days, totaling about $220 million, as a sign that institutional pressure is easing [1]. Trader Daan Crypto Trades added that the price’s ability to hold near $60,000 despite recent outflows suggests significant supply absorption, a factor that could support further upside if the “W” pattern validates [1].
While Bollinger’s technical signal is bullish, other market voices remain cautious. Some analysts still expect a macro bottom later in Q3 or beyond, and the pattern’s success hinges on volume confirming the breakout and on‑chain metrics such as whale activity staying supportive [2]. The convergence of technical, flow and on‑chain indicators makes the next few weeks pivotal for Bitcoin’s trajectory.
If Bitcoin manages to breach the neckline, the “W” pattern could signal the end of a bear market that has stretched since late 2025, but the ultimate direction will depend on whether volume, institutional flows and on‑chain dynamics align with the technical signal.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 5, 2026 · How we report
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