Bitcoin shed 3.5% to reach $62,369 on Bitstamp, its lowest level in over two weeks. US stocks refused to follow the massive rebound seen in Asia, where South Korea’s KOSPI index surged 17.9% in a single day, its largest single-day gain on record. This divergence comes as bitcoin posts an 8.5% monthly gain in July, its strongest monthly performance since 2022. Analysts warn that the bearish history from 2022 could repeat in August, with bitcoin’s 50-month exponential moving average at $65,820 continuing to act as resistance.
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