Bitcoin Price Slips Toward $64K as $65K Resistance Holds

Bitcoin fell toward $64,000 on Tuesday as repeated attempts to break above the key $65,000 resistance level failed, while rising bond yields and oil prices added pressure across risk assets.

The world’s largest cryptocurrency dropped more than 1% over 24 hours, although it remained slightly higher for the week. Bitcoin briefly climbed above $65,300 before retreating during Asian trading, marking a fourth consecutive day in which buyers were unable to sustain a move beyond $65,000.

Ether led losses among major cryptocurrencies, falling more than 2% to $1,878 while maintaining a small seven-day gain. XRP declined nearly 2% to $1.01 and has lost almost 6% over the past week. Solana slipped less than 1% to around $76 but remained the strongest weekly performer with a 3% gain. BNB traded near $600, up roughly 2% over seven days.

Some major tokens bucked the broader decline. Hyperliquid’s HYPE gained nearly 2% to $55, while TRX edged higher to $0.33 and Dogecoin posted a marginal increase near $0.07.

FxPro chief market analyst Alex Kuptsikevich noted that Bitcoin has repeatedly tested $65,000 without attracting a significant wave of buying. However, limited selling near the resistance level could indicate short positions accumulating above it rather than investors rushing to take profits.

The next major Bitcoin price level to watch is $70,000, which sits near the 200-day moving average. A sustained breakout could push BTC beyond a trading zone that saw intense competition between buyers and sellers during March and April, potentially improving crypto market sentiment.

For now, caution remains dominant. The crypto sentiment index stands at 30, firmly within the “fear” zone.

Macro conditions are also weighing on Bitcoin and crypto prices. The U.S. 10-year Treasury yield climbed six basis points to 4.71% on Monday, while Brent crude held around $87.73 after surging 5%. Gold extended gains above $4,400 an ounce.

Investors are now focused on Wednesday’s U.S. inflation data. Meanwhile, U.S. spot Bitcoin ETFs recorded $865 million in inflows during the five sessions through Aug. 7 before posting a provisional $91 million outflow on Monday.