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Bitcoin Price Rejected at $65K as Weak Demand and Rising Bond Yields Weigh

Guavy AI Editorial Team
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BTC
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Bitcoin's price fell to $64,300 on August 19 after failing to hold above $65,000. The rejection was due to weak spot demand, rising bond yields, and resistance near $65,400.

The daily chart shows Bitcoin trading just above the middle Bollinger Band at $63,895. The upper band stands at $65,350, closely matching the resistance that stopped the latest recovery.

Analyst Gerla interpreted the decline in spot volume as possible seller exhaustion rather than an immediate bearish signal. However, lower volume also means that the recovery has received limited confirmation from buyers.

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