Bitcoin Price Slips Below $65,000 Amid Cautious Market Sentiment
Bitcoin's price slid to $64,358 on August 7, dipping slightly over the past day but holding steady for the week. The cryptocurrency has been stuck in a tight range between $64,000 and $65,000 as sellers push back at higher levels.
The broader market sentiment remains cautious as investors await clearer geopolitical and macroeconomic signals. This caution is likely due to the recent Coldcard wallet security breach, which may have prompted some investors to switch from self-custody to more secure options.
Meanwhile, US spot Bitcoin ETFs pulled in $626 million over three days, indicating that big players remain interested in the market despite price fluctuations. Falling oil prices have eased inflation worries, but strong US manufacturing data suggests that the Federal Reserve may continue to tighten monetary policy.