Bitcoin

Key insight

Bitcoin is trapped beneath the key $65,000–$65,500 resistance band that must be reclaimed with a sustained close to reverse the medium-term downtrend; failure here risks a relapse toward the $60K–$61K support cluster.

BTC is consolidating just below the critical $65,000–$65,500 resistance zone while the Fear Index sits at 27, options traders are loading $60K puts, and cumulative 2026 ETF flows remain deeply negative at -$4.8–5.4B.

Main risk

Spot BTC ETF outflow resurgence

After a $981M seven-day inflow streak ended July 23, ETFs posted a $225M single-day outflow on July 24 driven by Middle East risk-off, and cumulative 2026 flows remain -$4.8B to -$5.4B — a renewed outflow wave would accelerate selling pressure below $63,000.