Bitcoin Trades Near $65K as Institutional Demand and ETF Inflows Support Price

Bitcoin's price remained near $64,752 as of August 9, according to market data. The cryptocurrency has recovered from its early-August lows but still needs to break through resistance convincingly.

The recent market coverage suggests that institutional buying is providing support for Bitcoin, while resistance and cautious investor sentiment are limiting the upside.

Several factors are helping maintain Bitcoin's position, including renewed demand from US spot Bitcoin ETFs. These ETFs have seen strong inflows in recent weeks, with some reports suggesting they're having their strongest week since April.

Additionally, weaker US employment data has increased expectations for easier monetary policy, which can support risk-sensitive assets like cryptocurrencies.