Key Highlights Bitcoin momentarily crossed the $65,000 threshold on August 10, hovering around $64,955 during the reporting period, reflecting a 3.4% weekly gain. July nonfarm payrolls decrea
Bitcoin surged beyond the $65,000 mark during Monday morning trading on August 10, peaking at an intraday level of $65,363 before experiencing a modest retreat. During the reporting window, BTC hovered around $64,955, registering a 0.3% increase over the previous 24-hour period and posting a 3.4% advance across the trailing week.
Bitcoin (BTC) PriceThe upward movement came on the heels of Friday’s disappointing U.S. employment statistics. The latest figures revealed a loss of 23,000 nonfarm payroll positions in July, while the unemployment rate remained stable near 4.1%. Additionally, downward revisions eliminated a combined 103,000 jobs from the May and June reports.
These employment figures triggered a recalibration of market sentiment. Futures pricing now indicates a 44% probability of a Federal Reserve rate increase in September, a notable decline from the 67% likelihood observed just one week prior.
The Federal Reserve maintained its benchmark rate within the 3.50% to 3.75% range during its July 29 meeting. Three committee members had advocated for a 25 basis point increase, with policymakers acknowledging that inflation continues to exceed the central bank’s 2% objective.
Market observer Ted Pillows provided commentary on Bitcoin’s price trajectory, highlighting that $BTC continues to maintain support above its ascending trendline and that sustained strength above the $63,000 level positions Bitcoin favorably for additional upside movement.
$BTC is still holding above its uptrend.
As long as $63,000 is not lost, Bitcoin has a decent chance of pumping from here. pic.twitter.com/zNErJuOghQ
— Ted (@TedPillows) August 9, 2026
Institutional participation intensified throughout the previous week. According to SoSoValue tracking data, U.S. spot Bitcoin ETFs captured $854 million in aggregate net inflows during the five-day period spanning August 3 through August 7. BlackRock’s IBIT product dominated this activity, representing $694 million of the weekly total.
Bitcoin Spot ETFs Saw $854M in Net Inflows Last Week; Ethereum ETFs Took In $245M
From August 3 to 7 (ET), Bitcoin spot ETFs recorded $854 million in net inflows, while Ethereum spot ETFs saw $245 million, marking five consecutive weeks of inflows. Solana, XRP and HYPE spot ETFs… pic.twitter.com/64xtJ53EcS
— Wu Blockchain (@WuBlockchain) August 10, 2026
Farside Investors’ tracking platform indicates a marginally higher figure of approximately $865.3 million for the identical timeframe. This variance stems from differences in data collection methodologies rather than contradictory information.
Notwithstanding the robust ETF capital flows, Bitcoin consolidated within a tight range around $64,200 throughout much of the week before mounting Friday’s advance.
The Relative Strength Index registered a reading of 55.07, positioned above its moving average of 50.44, indicating moderately bullish market momentum. The Awesome Oscillator displayed a positive value of 664.19, reinforcing constructive sentiment while stopping short of signaling an imminent breakout.
Trading strategist Michaël van de Poppe designated $65,800 as the “critical level” in an August 9 analysis, pointing to bullish divergence patterns evident in both RSI and MACD indicators. His assessment projects BTC is “ready for a breakout to at least $73,700.”
$BTC is ready for a breakout to atleast $73,700.
To me, there's one critical level to break.
That's the weekly level at $65,800.
When I'm looking at the charts, I don't think we'll test lower as the arguments are simply not there.
The MACD of multiple #Altcoins look… pic.twitter.com/uZ9FlMjz4B
— Michaël van de Poppe (@CryptoMichNL) August 9, 2026
The $65,000 to $66,000 zone has consistently functioned as a resistance ceiling. Bitcoin began the previous week trading around $62,500 before rallying to present price levels.
Throughout the wider cryptocurrency ecosystem, Solana delivered the strongest performance among leading digital assets, advancing nearly 5% over the seven-day measurement period. XRP stood as the sole major cryptocurrency posting losses, declining 4% on a weekly basis.
Wednesday’s Consumer Price Index release represents the next significant market-moving event, with economic forecasters anticipating July headline inflation will moderate to 3.4% on an annual basis, while core inflation is projected to decelerate to 2.5%.
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