Bitcoin fell to $64,358 on August 7, a 0.26% drop in 24 hours, but it has risen 0.27% over the week.
Analysts say Bitcoin remains trapped between $64,000 and $65,000. It briefly tested the upper band but could not maintain a position above it.
CoinSwitch Markets Desk warns that repeated rejections near $65,000 signal ongoing selling pressure. Support sits at $64,350–$64,400, and a break below could push the price to $64,200. A rebound to $64,600 could pave the way to $64,800–$65,000.
Lower oil prices ease short‑term inflation, but robust U.S. manufacturing data keeps the Federal Reserve likely to maintain tight policy, which may restrict liquidity for digital assets.
Institutional demand stays strong. U.S. spot Bitcoin ETFs recorded $626 million of net inflows over the last three trading sessions, partly as investors shift from self‑custody after a Coldcard wallet breach, says Prateek Gupta, Head of Business at Mudrex.
In the past 24 hours, major cryptocurrencies moved within narrow bands, reflecting cautious market sentiment.