Crypto
Bitcoin's Price Trapped Below $67,000 Resistance Amid ETF Demand and Liquidity Concerns
Bitcoin's price has been stuck below $67,000, where recent holders have a higher realized acquisition cost. Institutional demand has improved due to U.S. spot Bitcoin ETF inflows, but this has not yet pushed the price through the resistance level.
A move above $67,000 would test whether new demand can absorb additional supply and potentially trigger short liquidations. However, the liquidity setup creates two competing outcomes without confirming either direction.
The Coinbase Premium Gap, which compares Coinbase pricing with offshore venues, has been negative for 90 consecutive days through Aug. 3, indicating a weaker U.S. spot backdrop. Despite this, ETF demand improved against this backdrop.