Bitcoin fell around $6.43 million on 19 August in Asian time, and could not continue after the previous day approaching $65,000. The round was suppressed by a lack of spot purchases, a weaker United States spot than the ETF, and high bond yields.

Prices are still stuck in the last three weeks.

Earlier this week, bitcoin rebounded from $6.27 million to re-establish itself at $64,000 and at one point approached $65,000. But the sale came up quickly, and the price was again pushed back inside.

Market data indicate that since late July, Bitcoin has been operating for most of its time in the range of $6.25 million to $6.54 million, with short breakthroughs that have not been sustained. The immediate vicinity of $654 million continues to be the main resistance above, while $64,000 has become the spot of short-line, multi-empty and repetitive competition.

  • It's about $654 million in the near future.
  • It's about $6.25 million.
  • The height of the day rose to about $6.47 million.

Short-term trade is weak, ETF funds are flowing.

An important factor in the suppression of the rebound is the insufficient activity of spot transactions. The report refers to analysts ' views that the level of cash in cash has been declining in recent years, suggesting that the current price rebound has not been confirmed by a sufficiently strong buyout.

In contrast, the leverage share remains high. Earlier in August, the amount of futures traded in currency single-day bitcoin was approximately $57,822 million, while the amount traded was approximately $6,080 million. Based on CriptoQuant data, futures increased to 7.82 in relation to spot transactions, meaning that short-line fluctuations are more vulnerable to leverage position and liquidation.

Institutional demand has also cooled. The data show that, as of the week of 14 August, the United States net outflow of real bitcoin ETF was about $385.2 million, compared to the net inflows of about $853.5 million recorded on five consecutive trading days. The weakening of financial flows has weakened the incentive for prices to continue to attack near the resistance.

$6.54 million above and $6.22 million below are highly liquid

In terms of technical position, the Bitcoin day line is still operating above the Bryn medium track, which is approximately US$ 6.389.5 million and on track about US$ 65.35 million, close to the position of the recent rebound block. If this area is on the dayline station, the market may further test $66,000 and then look to the region of approximately $67,000 in late July.

The support below is concentrated at between $6.24 million and $6.27 million. If the solar line breaks down the area, the original shock structure will be weakened and the market may turn to $61,000, or even retest $58,000 near the low point in June and July.

The liquidation heat seeks to show that between $6.53 million and $6.56 million are in relatively close liquidity-intensive areas, and that there is a warehouse area near $66,000. The stronger liquidation concentration area below is close to $6.22 million, with some liquidity build-up between $6.34 and $6.44 million. This means that once prices are removed from the current zone, fluctuations may be further magnified by liquidation.

The Fed records the next macro variable.

Bitcoin's fall was also synchronized with broader risk asset adjustments. It was mentioned that the rise in global bond yields and the renewed tension in the Middle East have raised market concerns about energy-driven inflation. In the United States,10 annual sovereign debt yields were at about 4.686 per cent, while Brent crude oil prices remained above $91 per barrel.

Then the market focus turned to the Fed's July minutes. The conditions for a rebound would be more adequate if the summary releases a more moderate policy signal, while the ETF flow improves and more than $6.54 million is re-established in the currency. On the contrary, if debt market pressure persists and prices fall short of $64,000, the market outlook may be reoriented to support close to $6.25 million and $6.22 million.