Bitcoin's Price Near $64,000 Sparks Debate Over Whether Bottom Is In
Bitcoin's price near $64,000 has sparked debate on whether it has hit its bottom. Coinbase CEO Brian Armstrong and Bitwise CIO Matt Hougan believe that the low was reached around $60,000.
The year's flow picture is still negative, with US spot Bitcoin ETFs carrying roughly $4.8 billion in net outflows for 2026. However, July saw an improvement, with a three-week inflow streak worth roughly $560 million led by BlackRock's IBIT and Fidelity's FBTC.
Despite the positive trend, rate risk has not disappeared, with markets pricing close to 30% odds of a rate hike ahead of the July 29 FOMC. A hiking Fed is the single most reliable way to break a crypto recovery.
The four signals that would confirm a bottom are: sustained ETF inflows for a month, a decisive close above $68,000, the Fed shifting from hikes to cuts in market pricing, and higher lows on the daily chart.