Bitcoin Fails to Break Above $64,000 as Weak Demand Limits Recovery
Bitcoin is struggling to recover from its recent losses as it hovers around $63,000 on Sunday, August 16, 2026. Despite softer US inflation data reducing expectations of an immediate Federal Reserve rate hike, the cryptocurrency's price remains under pressure.
The move comes after Bitcoin lost around 2.7% during the previous week, with traders watching the $62,300-$62,500 area as a crucial short-term support zone. The Coinbase Bitcoin Premium Index has remained negative for 90 consecutive days, indicating weaker US buying interest, but this does not necessarily prove institutional investors are exiting Bitcoin.
Despite positive commentary from prominent advocates such as Michael Saylor, who continues to promote Bitcoin as a long-term asset, the cryptocurrency's price remains stagnant. The subdued movement is largely due to low weekend liquidity, with fewer participants active in the market on Sunday. This has left Bitcoin trapped in a narrow range, unable to make a decisive move in either direction.