Bitcoin Stuck Near $65K: Will History Repeat Itself for Third Time?

Bitcoin's price is hovering near $64,300, sitting at a level that has stopped its last two rally attempts. Traders are watching closely to see if history repeats itself for a third time.

The world's largest cryptocurrency has spent the past several months building a pattern that chart watchers can't ignore: two rejections and one trendline, with the price hovering just under $65,000.

According to analyst Ali Charts' shared chart, Bitcoin's daily price action stretching back several months traces a falling trendline connecting two sharp rejection points. The first rejection happened near the $130,000 to $140,000 zone late last year, and the second came in May, closer to $80,000.

Regulatory news is adding fuel to the uncertainty, with the CLARITY Act delay affecting Bitcoin's price. The bill meant to set clearer rules for digital assets has been delayed again in the Senate, with no vote expected before the recess.