Bitcoin Stuck Near $65,000 as Analyst Sees $62k-$68k Range

Bitcoin has been stuck in a tight range near $65,000, according to CoinMarketCap data. As of 8:50 a.m. on August 9th, Bitcoin was trading at $64,914 with no change from the previous day.

This is not an unusual situation for Bitcoin, which has been fluctuating within the $64,000, $65,000 range. Other cryptocurrencies like Ethereum, Binance Coin, Ripple, and Solana are also showing some movement, with Ethereum up 0.11% at $1,917 and Solana up 3.17% at $76.

Analyst Park Sung-je from Shinhan Investment & Securities believes that Bitcoin's upward momentum is limited in the short term due to funding pressure for strategies and potential sales, as well as delays in handling the Clarity Act. He expects a range of $62,000, $68,000 for Bitcoin in the short term.