Bitcoin Hovers Near $64K as Buyers Remain in Control Despite Profit-Taking

Bitcoin is trading near $64,000 as buyers remain in control despite some profit-taking at higher levels. According to data from CoinMarketCap, the global crypto market capitalization has increased by 0.8% to $2.21 trillion.

Riya Sehgal, a Research Analyst at Delta Exchange, noted that Bitcoin is consolidating near $64,500 after its recent recovery, indicating that buyers remain in control despite some profit-taking at higher levels.

Sehgal further said that the broader trend remains constructive while the price holds above $64,000. A decisive break above the $64,800 to $65,000 resistance zone will be required to trigger the next leg higher towards $65,500 to $66,000.

Nischal Shetty, founder of WazirX, stated 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.