Bitcoin traded near $64,000 on Tuesday, up 1.7% to around $64,200, as reported by crypto.news, recovering from the low-$62,600 region to around $64,210. The cryptocurrency reached an intraday high of $64,586 during the recovery, moving above the $63,152 level which marks the 78.6% Fibonacci retracement of the advance from $57,803 to $82,864. The daily chart shows BTC holding above its 20-day simple moving average at $63,802 and 50-day moving average at $63,889, with the daily relative strength index rising to 51.95 and moving above its signal average of 49.14. Bitcoin moved above the Bollinger Bands' middle line at $63,173 and crossed the upper band near $63,774, showing that the rebound accelerated beyond its recent trading range. Chaikin Money Flow on the 4-hour timeframe rose to 0.24, indicating that buying volume supported the move, with a price holding above $63,774 keeping the immediate focus on the $64,700–$65,000 resistance area.
U.S.-listed spot Bitcoin ETFs recorded more than $137 million in net inflows on Monday, following over $385 million in net withdrawals during the previous week, according to crypto.news. This reversal suggests institutional demand returned after several sessions of selling pressure. The recovery also came as buyers defended an area that has repeatedly attracted demand since June, with Bitcoin falling toward $62,600 on Aug. 14 and again testing the upper $62,000 region on Aug. 17 before climbing above $64,000. The move also gained momentum as selling pressure eased, with the combination of reduced Fed hike expectations and dollar weakness creating favorable conditions for cryptocurrency markets. Capital rotation into alternative risk assets helps explain Bitcoin's strength, as traders priced in the possibility that upcoming FOMC minutes would lean dovish or avoid an overtly hawkish tone.
Despite the breakout above $63,000, the broader picture remains less convincing with CryptoQuant's volatility-adjusted momentum falling below zero, suggesting Bitcoin is generating weak returns relative to its recent volatility, as reported by crypto.news. The risk oscillator has also returned to a level that previously appeared near major market turning points, indicating potential for further volatility. The fear and greed index had slightly raised to 50 and market sentiments have turned neutral, according to CoinDCX Research Team, with the global crypto market capitalisation going up 0.68% to $2.19 trillion. US spot demand also remains soft, with the Coinbase Premium Index still negative, although the indicator may exaggerate weakness because of differences between USD and USDT pricing. Bitcoin ETFs also recorded net outflows last week, continuing the trend of institutional capital rotation away from cryptocurrency products, with US spot Bitcoin funds recording $389.7 million in net outflows, their largest weekly withdrawal in roughly six weeks, as noted by The Economic Times.
CoinGlass' one-week Bitcoin liquidation heatmap shows a dense concentration of leveraged positions around $64,700, representing the closest major liquidity cluster above the current market price, according to crypto.news. Additional liquidation concentrations appear near $65,000, $65,500, and $66,000, with the largest nearby downside pool sitting around $62,200–$62,300. Longer-term resistance continues to limit the recovery, with Bitcoin remaining below its 100-day moving average at $66,416 and 200-day average near $69,079, both lines sloping downward. The price has traded in a narrow range since the end of June, with most daily closes concentrated between approximately $62,000 and $66,000. Bitcoin's immediate direction therefore depends on whether buyers can turn $63,800–$64,000 into support, with holding that zone leaving $64,700 and $65,000 as the next targets, while a breakdown would expose $63,250, $62,600, and the leveraged positions concentrated near $62,200.
Ethereum gained 0.43% to trade at $1,899, while among major altcoins, Solana, Tron, and Hyperliquid rallied up to 1%, according to The Economic Times. BNB, XRP, Dogecoin, and Cardano slipped up to 1.37%, with the global crypto market capitalisation showing mixed performance. In the past week, Bitcoin and Ethereum were up 0.28% and 0.18% respectively, while among major altcoins, BNB, XRP, Dogecoin and Cardano corrected up to 8.30%, and Solana, Tron, Hyperliquid gained up to 8.48%. Bitcoin rose above $64,000 on Tuesday, up over 1% on the day and marginally higher on the week, the only major with a meaningful gain as the rest of the market drifted lower, with Bitcoin's market dominance remaining below 57%, indicating that altcoins still represented more than two fifths of the total cryptocurrency market. Venice Token led the top 100 gainers with a 12.5% rise to approximately $13.70, with the company reporting its annualized revenue had crossed $100 million.
