Can $BTC break the $64.7k zone again soon?
#Bitcoin trades are trying to break through $64k and resume its hunt for the $64.7k resistance zone, and it has printed a bullish crossover on the 4H chart, with the RSI also signaling early momentum recovery.
However, in the past week, $BTC has rallied into the $64,500–$64,733 zone and got rejected all the time. Since it reached $67k on 21st July, the highest it has reached again is $65,500, which was on July 27, nearly one week after. Apparently, $BTC has been printing lower highs and lower lows since its #PPI pump, but the BULLs seem to be defending the $63k level so well and tried to absorb each dump.
Now the #FOMC came yesterday, and it was as expected, so although the market front-ran the outcome, it didn’t dump further. $BTC is not looking to recover and move upwards.
The macro and on-chain backdrop is mixed. Arthur Hayes argues that Bitcoin's sluggish price action isn't a liquidity problem; in his view, the AI investment boom is absorbing the capital that would otherwise flow into crypto, with AI-driven profits going into real estate, luxury goods, and more Nasdaq tech rather than rotating into BTC.
On the on-chain side, a Lazarus Group-linked hacker wallet moved 121.5 BTC ($7.74M), and a Bitcoin address tied to Bitminter founder Geir Harald Hansen moved 829 BTC that had sat dormant for eight years. These potential sell signals won’t do anything on $BTC, but they’re worth noting. More so, both the Lazarus and Bitminter-linked transfers could just as easily be internal wallet consolidation. Nothing here confirms sell pressure yet.
The bull case for $BTC is to push above $64.7k and keep the MACD crossover going to open the path back toward the $65,500 area. But if this resistance zone breaks again, $BTC might rotate back toward the low-$63,000s, where the broader July range floor sits.
