Bitcoin Stabilizes at $64,300 Amid Ongoing Downtrend
Bitcoin's price has dropped significantly since its peak in August 2025, reaching $124,740. As of August 11, 2026, it trades at around $64,300, which is approximately 48% below the twelve-month high and nearly 46% lower than its value a year ago.
The price has stabilized and sits about 10% above the twelve-month low of $58,566. The chart structure shows that Bitcoin is still in a downtrend, with the 200-day moving average at $73,356, leaving the current price 12.3% below it.
The short-term trend has turned neutral, as the price is effectively glued to its medium-term average of $64,593. The relative strength index (RSI) is almost exactly on the midline at 50.7, indicating that Bitcoin is not oversold and removing a popular argument for contrarian entry.
A buyer needs three conditions to be met for a genuine trend break: the 200-day average must stop declining, the price must clear that line from below and hold above it (requiring a rise of roughly 14%), and the breakout must come with rising trading volume. However, none of these conditions are currently met.