Bitcoin's daily, weekly, monthly, and yearly trends are now all pointing downward. This marks a shift after weeks of recovery above $65,000 earlier in August.
Markets are balancing softer-than-expected CPI data against persistent Middle East uncertainty and geopolitical tensions that keep risk appetite subdued.
Bitcoin ETFs saw $61.1M in outflows on August 13, with IBIT down $14.3M and FBTC down $46.8M. Recent strength in early August may be stalling as institutional confidence wavers.
Technical analysts watch $60K as critical support. A break below signals further weakness toward mid-50s. Resistance above $65K requires renewed institutional demand and macro clarity.
Watch for CPI data revisions and Fed communications this week. A move toward rate cuts could reignite demand; escalating Middle East tensions could accelerate selling pressure.
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