Bitcoin Price Fails to Break $64K Barrier Amid Market Volatility

Bitcoin's (BTC) price recovery attempt to over $64,000 came to a halt as it was pushed south by over a thousand dollars before finding some support.

The primary cryptocurrency had made a minor run at the start of the previous business week, pumping from $62,200 to over $65,000. This happened despite the CLARITY Act setback in the US Senate and following the weak US jobs report for July.

BTC spent the subsequent weekend trading sideways around $65,000 before trying to break out again on Monday. However, it faced another rejection at $65,400 this time, leading to a more violent drop of $1,500 to $63,800 within hours.

The rebound was stopped at $64,400 a day later, and the drop pushed it to $63,200. Even the US CPI data for July, which matched expectations, did not lead to a more profound recovery. BTC has since calmed between the two boundaries, currently trading at $63,600.