Bitcoin Falls Below $64,000 After Fourth Failed Attempt at $65,000

Bitcoin dropped more than 1.5% on Tuesday to trade below $64,000, slipping from an earlier 24-hour high above $65,300 during Asian trading hours, though it remains marginally higher for the week.

Ether led losses among major tokens, falling over 2.2% to $1,868, while XRP declined nearly 2% and posted the worst weekly performance of the group, down almost 6%. Solana and BNB both held modest weekly gains despite daily declines, while Hyperliquid’s HYPE, Tron, and dogecoin were among the few tokens moving higher.

Analysts Eye $70,000 as Next Key Level

Bitcoin has repeatedly tested the $65,000 level over four consecutive days without a strong buying surge, but the lack of selling pressure near that mark suggests traders may be building short positions above it rather than taking profits. Clearing $70,000, where the 200-day moving average currently sits, would push bitcoin above a range that defined trading earlier this year and could meaningfully shift market sentiment. For now, the broader crypto sentiment index remains in fear territory, where it has stayed since mid-July.

Bond Yields and Oil Prices Add Pressure

Rising US Treasury yields and a jump in oil prices following fresh geopolitical tensions over the Strait of Hormuz have weighed on risk assets tied to expectations around interest rates. Gold extended its gains for a third straight session. Meanwhile, US spot bitcoin funds saw a shift in momentum, recording a provisional outflow after strong inflows in the prior week.