Bitcoin recovered above $64,400 on Sunday after briefly slipping below the $63,800 support level watched by technical traders. BTC traded near $64,491, up about 0.6%, after moving between $63
Bitcoin recovered above $64,400 on Sunday after briefly slipping below the $63,800 support level watched by technical traders.
BTC traded near $64,491, up about 0.6%, after moving between $63,765 and $64,520 during the session. Spot trading volume stood near $14.3 billion over 24 hours, below the levels recorded during last week’s push above $66,000.
Ali Martinez identified $63,800 as the immediate pivot, with a sustained hold opening a potential rebound toward $67,000. A breakdown would return attention to the $60,000 region that absorbed selling pressure during Bitcoin’s June decline.
Sunday’s low moved slightly beneath the level before buyers restored price above it. The next confirmation would come from a daily close that keeps BTC above $63,800 rather than another intraday recovery followed by weakness during higher-volume U.S. trading.
Bitcoin must first clear the $65,000 to $65,500 area before challenging $67,000. That zone capped several recovery attempts after BTC reclaimed $65,000 in mid-July.
A move through $67,000 would bring the market toward $68,000, where Bitfinex analysts place the aggregate cost basis for short-term holders. Coins held by that cohort would move closer to breakeven, creating potential supply from traders seeking to exit positions accumulated at higher prices.
The downside structure remains concentrated around $60,000. Bitcoin previously faced a $59,700 target after a rejection from its trading channel, while repeated rebounds from the wider $58,000 to $60,000 area have kept that range intact as the market’s main medium-term floor.
Institutional flows have strengthened during the recovery. U.S. spot Bitcoin ETFs recorded seven consecutive positive sessions from July 14 through July 22, attracting $981.2 million as BTC reached $66,300, Santiment said.
Options positioning remains less aggressive. Glassnode said one-week 25-delta skew had fallen toward 4%, showing reduced demand for immediate downside protection, while three- to six-month readings remained near 11% to 12%. Longer-dated traders were still paying more for protective puts than bullish calls.
Bitcoin remained near $64,491 after Sunday’s recovery, keeping $63,800 in play as immediate support, $67,000 as the first upside target and $60,000 as the next major level if the current floor fails.
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