Will Bitcoin Break Through $64,322 Resistance Level This Week?
Bitcoin's price has been hovering around $64,000 in recent days, and experts are watching to see if it can break through the critical resistance level of $64,322. According to CoinLore's forecast model, a clean daily close above this level would be a significant technical confirmation of renewed upside momentum.
However, despite some positive macroeconomic developments, such as record equity closes on the S&P 500 and Dow, and easing US Treasury yields, Bitcoin's price has not seen a decisive rally. In fact, spot Bitcoin ETFs have recorded modest inflows, with $19.6M in net inflows on August 4, following $265M in outflows reported on August 1.
Axios also reported that the US, Iran, and Oman are approaching a temporary deal to reopen the Strait of Hormuz, which could ease oil-price pressure and shift risk appetite. But for Bitcoin's price to break through $64,322, sustained daily inflows above $100M would be needed to turn a technical breakout into a trend.