Bitcoin Stuck at Resistance as Institutional Demand Meets Technical Hurdles Ahead of Key Inflation Report

Bitcoin's price has been stuck near $65,400 resistance as institutional demand meets technical hurdles. The cryptocurrency is trading at $63,913 on August 11, after a modest pullback from the significant resistance level.

The U.S. July Consumer Price Index (CPI) report scheduled for August 12 is widely regarded as the single most important macro catalyst for crypto assets in the near term. Inflation data will heavily influence Federal Reserve interest rate expectations, directly affecting risk appetite across all asset classes, including cryptocurrencies.

Despite recent price pullback and broader market caution, institutional demand for Bitcoin remains robust, providing a crucial floor for prices. Spot Bitcoin ETFs recorded net inflows of approximately $101.7 million on August 10, contributing to a substantial weekly total of $833 million.

Ethereum ETFs also attracted significant attention, with $49.6 million in inflows on the same day, bringing weekly inflows to $265.5 million. Combined, spot Bitcoin and Ethereum ETF inflows for the week ending August 7 totaled around $1.1 billion.