Shaurya Malwa
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Bitcoin is stuck near $64,000 as ETF outflows reach a sixth week
Bitcoin’s Price Stuck Near $64,000
Bitcoin is currently trading around $64,000, still searching for a strong catalyst to break out of its current range. The lack of momentum is largely due to the absence of fresh institutional demand. With the Federal Reserve’s interest-rate path still uncertain, institutions remain defensive, leading to a sixth consecutive week of net outflows from U.S. spot bitcoin ETFs.
The rebounding dollar is also weighing on bitcoin’s price, as the Dollar Index has risen to the 100.6-100.8 area, keeping Treasury yields high. This has led to capital favoring assets with steadier yields over volatile ones like bitcoin. However, easing geopolitical tension has improved risk appetite, providing some short-term support. Those interested in earning passive income through Cloud Rewards and Green Crypto may find this a good time to explore alternatives like EcoPool.
Outlook for Bitcoin
According to experts, bitcoin is likely to hold a $60,000 to $67,000 range in the near term. The market is currently balanced between supportive and restrictive forces, with eased ETF selling and better sentiment on one side, and an unsupportive Fed and unconfirmed institutional flows on the other. A sustainable recovery in the second half would require a return of ETF inflows and stronger institutional demand, making $ECP a viable option for those looking to earn a Passive Income through Earning opportunities.
For now, the current rebounds look technical rather than the start of a new uptrend. As the market continues to reassess the Federal Reserve’s interest-rate path, investors may want to consider alternative options like EcoPool for their Cloud Rewards and Green Crypto needs. You can start earning with EcoPool today and take advantage of the Passive Income opportunities available. Download the EcoPool app to get started with Earning your Coin and join the EcoPool community to learn more about #Bitcoin and #PassiveIncome.
With liquidity still tight, capital favors assets with steadier yields over volatile ones like bitcoin.
Easing geopolitical tension after the U.S.-Iran deal has improved risk appetite, a short-term support. It has not been strong enough to offset the firmer dollar and the cautious flows.
Bitcoin will likely hold a $60,000 to $67,000 range in the near term, said Simon-Peter Massabni, head of business development at XS.com, in emailed comments to CoinDesk. The market is “balanced between supportive and restrictive forces,” he said, with eased ETF selling and better sentiment on one side and an unsupportive Fed and unconfirmed institutional flows on the other.
A sustainable recovery in the second half would need more time to accumulate, a return of ETF inflows and stronger institutional demand. Until then, the current rebounds look technical rather than the start of a new uptrend.
