Bitcoin Reclaims $64K Amid Uncertain Recovery Conditions

Bitcoin's price regained $64,000 on August 17th after a nearly 2% increase. However, this recovery is uncertain due to weak daily momentum and compressed volatility.

The rebound came after an intraday low of $62,751, with the price reaching a high of $64,227. According to Glassnode's data, Bitcoin's implied volatility has fallen into its lowest 2% historical distribution, but remains around 1.5 times higher than recent realized volatility.

Jeff Mei, chief operating officer at BTSE, stated that exchange-traded fund flows and Federal Reserve signals remain key factors for a sustained recovery. He noted that Bitcoin and Ethereum pulled back after some ETF outflows last week.