📉 The ceiling that stopped the bounce
$BTC hit a high of $64,433** in the first hours of the day—its highest level in two weeks—driven by a weekly rise of **~6%** from the lows of **$58,000. But the attempt to break the $64,400 resistance** failed, and the price pulled back into the **$63,000-$63,300** zone.
💥 What caused the rejection?
1. Strategy’s biggest Bitcoin sell-off (the main catalyst)
Strategy executed its largest sale since it left its “hold forever” strategy, unloading 3,588 BTC for ~**$216 million**. The market absorbed the news without collapsing (BTC stayed above $63,000), but the sell-off acted like a psychological ceiling that cooled momentum right when price was trying to break $64,000.
2. Bitcoin ETFs slow momentum
Spot ETFs showed weak flows and open interest in futures fell. Without institutional backing, the rally is fragile.
3. Technical resistance at $64,000**
The **$64,000** level had been a ceiling on multiple occasions during June. Bitcoin needed a sustained close above to pave the way to $65,000, but it was rejected.
📊 Where is Bitcoin now?
Level Price
Resistance $64,000 - $64,500
Immediate support $62,500 - $62,800
Next support $60,700 - $61,000
🧠 What does it mean?
· The good: the market showed resilience— a $216M sell-off only triggered a $1,000 correction, and BTC is still up 6% on the week.
· The bad: the rally doesn’t have enough conviction. Institutional demand is weak, and open interest is falling. This could be a temporary bounce, not the start of a new bull trend.
The key question: Will Bitcoin break $64,000 with volume in the next few days, or does this rejection mark the ceiling of July’s bounce?
Do you think BTC will break above $64,000 or will the correction continue? 👇
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