Bitfinex flags strong BTC $62K–$65K resistance despite supply decline
TL;DR
- Range resistance: BTC failed six attempts above $65,000, with repeated rejections and thin upside volume.
- Holder dynamics: The $62K‑$65K band contains 1.79M BTC, keeping price pinned as long‑term holder supply declines.
- Market tone: Options markets expect CPI to be a non‑event, reinforcing expectations of continued consolidation.
Bitcoin continues to struggle at familiar levels even as broader risk markets surge, according to the latest report from Bitfinex. Over the past two weeks, equities have pushed to fresh all‑time highs, while BTC has repeatedly failed to close daily above $65,000. The contrast highlights a widening performance gap, one shaped by liquidity, supply dynamics and a stubborn cost‑basis band that keeps price locked in place.
Persistent rejections at $65K cap upside momentum
Between 5 and 10 August, BTC printed six consecutive daily highs above $65,000, yet every attempt was rejected before the close. The last daily finish above that level came on 26 July. This mirrors July’s behaviour, when the market broke $63,000 seven times only to reclaim it each time. The pattern suggests that buyers are unable to generate sustained momentum and that sellers remain active at the top of the range.
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