Bitcoin Stuck Between $65K and $67K Bottleneck

The price of Bitcoin has been stuck in a bottleneck between $65K and $67K, causing tension between bulls and bears. The latest data from CryptoQuant shows that strong demand is not yet present to support a bullish trend reversal.

On August 5th, as Bitcoin approached the $65K mark, Binance saw a surge in taker buyer volume. However, this buying spree was insufficient to overcome the limit sell orders sitting overhead.

The influx of demand was eventually absorbed, but it led to short-term price dips towards $64K over the last 48 hours.

Analysts believe that breaking through the $65K-$67K zone will be crucial in determining Bitcoin's next impulse move.