Bitcoin Consolidates Near $64,700 as Buyers Remain in Control

Bitcoin's price is hovering around $64,700 after experiencing a 1% growth in the past 24 hours. This indicates that buyers are still in control of the market despite some profit-taking at higher levels.

Riya Sehgal, Research Analyst at Delta Exchange, noted that Bitcoin is consolidating near $64,500 after its recent recovery. She believes that the broader trend remains constructive as long as the price holds above $64,000.

To trigger a new leg higher towards $65,500 to $66,000, a decisive break above the $64,800 to $65,000 resistance zone will be necessary, Sehgal added. The global crypto market capitalization increased by 0.8% to $2.21 trillion, according to CoinMarketCap.

Nischal Shetty, founder of WazirX, emphasized that institutional demand remained visible despite range-bound prices. US spot Bitcoin ETFs recorded $211.5 million in net inflows, while spot Ethereum ETFs attracted $53.8 million.