Bitcoin Price Slips Back Below $65K Amid Weak Demand

Bitcoin's price retreated to around $64,300 on August 19 after failing to hold above $65,000. According to data from crypto.news, the price had reached an intraday high of $64,736 before sellers pushed it lower.

The retreat followed a rebound from the $62,700 area earlier in the week. Bitcoin moved through $64,000 and approached $65,000 on August 18, but the rally did not attract enough buying pressure to clear the upper end of its recent range.

Trader Lennaert Snyder said Bitcoin had again been rejected from the high of its compression range, identifying $65,400 as the level keeping the asset inside the range. He noted that a loss of the $64,000 previous-day low could send the price back toward the lower boundary.