Bitcoin stalls at $64,300 for fourth time as stocks hit record highs

Bitcoin traded at $64,068, down 0.42 percent in 24 hours, holding a narrow band between $63,958 and $64,508 as of 14:30 UTC on Aug. 5, even as global equity markets printed fresh records.

"A four-hour close above $64,300 could confirm the breakout and open the door to a rally toward $65,500 or even $66,500," Ali Martinez, a crypto chart analyst, said on X.

Macro conditions were broadly constructive: the S&P 500 and Dow closed at all-time highs, Japan's Nikkei gained 3.5 percent and South Korea's benchmark surged 4.3 percent, while Brent crude slid toward $78.85 and the U.S. 10-year Treasury yield eased to roughly 4.603 percent. U.S. spot Bitcoin ETFs posted $19.6 million in net inflows on Aug. 4, a modest tailwind after a $265 million outflow day. Strategy sold 1,638 BTC for approximately $105 million, small relative to its 842,138 BTC stash but removing a reliable bid from the market.

The $64,300 level is the short-term line in the sand, and whether BTC reclaims it cleanly or stalls below it will shape positioning for the next several sessions.

BTC is sitting at $64,092 on the daily chart, with the structure since the June low around $58,000 representing the most sustained recovery attempt since the broader downtrend began. Price has ground higher over six weeks and now pushes into the $64,000 to $65,000 zone, the first meaningful resistance from the pre-June breakdown.

That zone has capped every push since July, and price is sitting right at it again — the third or fourth test of the ceiling without a clean break. The more times a resistance level gets tested without breaking, the more likely it eventually gives way, but every failed attempt adds to the overhead supply waiting to sell.

A daily close above $65,000 held over multiple sessions opens $68,000 first, then $72,000 as the next meaningful resistance from the May breakdown zone. On the downside, $60,000 is the floor that needs to hold on any pullback, and the June low at $58,000 is the absolute line that cannot break without the entire recovery collapsing.

On the 4-hour chart, BTC is testing the upper boundary of a descending parallel channel that has guided price action since the July 21 peak near $66,700. The Awesome Oscillator climbed to 277.98 with rising green bars, indicating bullish momentum building on the 4-hour timeframe. Order-book data shared by analyst Ted Pillows showed large sell orders appearing between $64,000 and $65,000, explaining why BTC has repeatedly struggled to extend gains.

The one-week liquidation heatmap showed a large concentration of leveraged positions near $62,000, the brightest liquidity band below the current price. Smaller clusters appeared around $63,000, while several bands were visible above Bitcoin between $64,500 and $66,000, levels that could fuel a short squeeze if BTC closes above $64,300.

The macro setup is supportive; the crypto-native demand picture is not yet confirming it. Historically, cheaper oil and lower yields have lifted non-yielding assets like BTC. The June CPI recorded a 3.5 percent year-over-year rise, a deceleration from previous months, with core inflation holding in the mid-2 percent area — readings that temper expectations of aggressive Federal Reserve tightening.

Qatar's confirmation that regional mediators were working to bring the United States and Iran back to negotiations has eased some concerns surrounding global energy supplies. The Strait of Hormuz remains one of the world's most important oil transit routes, and any reopening could reduce pressure on crude prices and improve demand for risk assets.

For traders, the bullish scenario depends on BTC holding $63,496 and breaking the $64,300-$65,000 supply zone, supporting targets at $65,500, $66,500, and eventually $66,975. The bearish scenario begins with a loss of $63,500, which could expose $62,421 followed by the liquidation cluster near $62,000.

This article is for informational purposes only and does not constitute investment advice.