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Bitcoin struggles to hold the $64,000 mark

Bitcoin is seeking direction around the critical $64,000 threshold, a level being closely monitored for BTC.

If the $64,000 level holds, the $65,000 and $65,700 marks could come back into play.

Weakness below $63,000 could leave the price vulnerable to a drop toward $61,000.

As Bitcoin retests the critical level around $64,000, the search for short-term direction has taken center stage. If the price sustains its position in this zone, a continued recovery is possible; however, a loss of support could reignite selling pressure.

Bitcoin is currently trading at $64,630.10, with a 24-hour trading volume of $20.97 billion and a market capitalization of $1.29 trillion. The asset has risen 1.09% over the last 24 hours. In the short term, the price structure is being monitored alongside growth in spot ETFs.

After dipping below $63,000, the Bitcoin price attracted buyers and retested the $64,000 pivot point. Following this move, BTC recovered to $64,529 but subsequently faced renewed selling, pulling back to the $64,000 threshold.

Maintaining the $64,000 level could bring the $65,000 and then the $65,700 marks into play; reclaiming this zone would significantly strengthen the short-term bullish outlook.

Holding the $64,000 level could pave the way for a move toward $65,000 and subsequently $65,700. Conversely, if this pivot point is lost, the $63,000 support level will once again come into focus. If four-hour closes fail to hold above $63,000, the recovery structure could weaken, and the risk of a drop to $61,000 might come into play.

$63,000 Major support

$64,000 Critical pivot

$65,700 Confirmation of upward movement

$67,200 Previous resistance
Data from the U.S. Securities and Exchange Commission (SEC) revealed that, as of June 30, Jane Street held positions exceeding $1 billion in U.S. spot Bitcoin ETFs. Jane Street is a prominent quantitative trading firm known for its high-volume trading activities in global markets.

Jane Street’s large-scale allocation to spot Bitcoin ETFs demonstrates that major financial institutions are seeking exposure to the asset through regulated investment vehicles rather than holding Bitcoin directly.

Of this total, $828 million is held in BlackRock’s IBIT fund, while the remainder is distributed across various other spot Bitcoin ETFs, including Fidelity’s FBTC fund and Grayscale’s GBTC product. The data indicates that institutional investors are increasingly accessing Bitcoin via regulated products.

The market's future trajectory will largely depend on whether the $64,000 threshold can be maintained. If the price rises above $65,700, the $67,200 resistance level could come back into play. Conversely, a drop below $63,000 could raise the risk of further weakness toward $61,000.

The growing institutional positioning in spot ETFs is viewed as a supportive factor for market confidence. However, technical levels appear to remain the primary drivers of short-term price action.
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