Bitcoin Stalls at Weekly Resistance as Inflows and On-Chain Metrics Weigh

Bitcoin's price has recovered sharply from its July low near $57,735, but it still faces major weekly resistance. The price has been trading near $77,254 on Aug. 23 after reaching a high of $79,461 during the latest daily session.

The rebound has pushed the price above key retracement levels and revived institutional demand, with U.S. spot Bitcoin ETF inflows supporting the four-day price recovery. The inflows totaled $307.5 million on Aug. 21, following $606.3 million one day earlier and $517.2 million on Aug. 19.

However, liquidity remains concentrated near $73,000 and below the $71,000 region, making a break above the weekly resistance band crucial for strengthening the bullish case. If Bitcoin can hold above the current level, it could expose the chart's next Fibonacci target near $82,833.