📉 Not A Healthy Pullback Anymore, Bitcoin Is Back At $64K
The story changed. Two days ago the dip looked like normal consolidation after a strong run. Now Bitcoin has slid to $64,337, down 1.13%, roughly 2.6% off the July 21 peak, and the reasons behind it aren't technical anymore.
📉 Where it stands:
Price: ~$64,337 (down 1.13%)
Off the July peak: about 2.6%
Ascending support: $63,700 to $64,300, right underneath
Fear and Greed: caution returning
What flipped the read is what's driving it. ETFs pulled $225 million out on July 23, with BlackRock's IBIT alone accounting for $202 million, reversing the steady inflows that powered the recovery from $58K. At the same time US tech stocks suffered their sharpest selloff since April 2025, with the Magnificent Seven down 4.8% and losing roughly $797 billion in a single day. Oil above $85 revived inflation fears on top of that. This is macro pressure and institutional selling, not routine profit taking.
On the 1D, price is sitting right on the ascending trendline connecting higher lows since the June bottom near $58,000. That line at $63,700 to $64,300 is the last structural defense of the entire recovery. Momentum has already weakened, with 4H RSI at 45 below its signal and MACD crossing down. A $1.2 billion options expiry adds volatility risk.
What to watch:
Hold $63,700 and reclaim $66K, and the recovery structure survives.
Lose the trendline on a daily close, and $62K then $60K open up.
When the reason for a dip changes from technical to fundamental, the read has to change with it. No catching this with leverage. Let the trendline hold or break, then act. The July 29 Fed meeting is next.
Trendline holds, or the recovery unravels toward $60K?
Not financial advice. $BTC
$ETH
$BNB
The story changed. Two days ago the dip looked like normal consolidation after a strong run. Now Bitcoin has slid to $64,337, down 1.13%, roughly 2.6% off the July 21 peak, and the reasons behind it aren't technical anymore.
📉 Where it stands:
Price: ~$64,337 (down 1.13%)
Off the July peak: about 2.6%
Ascending support: $63,700 to $64,300, right underneath
Fear and Greed: caution returning
What flipped the read is what's driving it. ETFs pulled $225 million out on July 23, with BlackRock's IBIT alone accounting for $202 million, reversing the steady inflows that powered the recovery from $58K. At the same time US tech stocks suffered their sharpest selloff since April 2025, with the Magnificent Seven down 4.8% and losing roughly $797 billion in a single day. Oil above $85 revived inflation fears on top of that. This is macro pressure and institutional selling, not routine profit taking.
On the 1D, price is sitting right on the ascending trendline connecting higher lows since the June bottom near $58,000. That line at $63,700 to $64,300 is the last structural defense of the entire recovery. Momentum has already weakened, with 4H RSI at 45 below its signal and MACD crossing down. A $1.2 billion options expiry adds volatility risk.
What to watch:
Hold $63,700 and reclaim $66K, and the recovery structure survives.
Lose the trendline on a daily close, and $62K then $60K open up.
When the reason for a dip changes from technical to fundamental, the read has to change with it. No catching this with leverage. Let the trendline hold or break, then act. The July 29 Fed meeting is next.
Trendline holds, or the recovery unravels toward $60K?
Not financial advice. $BTC
$ETH
$BNB