Bitcoin Price Hits $63,400 as ETF Inflows Fail to Boost Gains

Bitcoin dropped by 0.7% to around $63,400 after a brief rally to $64,400 was short-lived.

The price dip was triggered by Strategy selling 1,690 BTC to fund stock repurchases, which weighed on the market.

Despite $854 million inflows into spot bitcoin ETFs, which absorbed more bitcoins than newly issued, selling pressure and a large overhead supply between $62,000 and $65,000 kept bitcoin range-bound.

Analysts expect bitcoin to stay within this range until ETF demand consistently exceeds selling and inflation data eases long-term yields.