🔗 Bitcoin price rebounds to $63,600, but can BTC break $65,500?

📊 Bitcoin price recovered from the $62,700 area as buyers defended a key support zone, but ETF outflows, weak trend signals, and heavy overhead liquidity continue to limit the rebound. The move followed several unsuccessful attempts by sellers to push BTC below the $62,500–$62,700 region. Bitcoin had fallen from above $65,000 earlier in August, leaving the market vulnerable to a deeper correction before buyers returned near monthly support.

🌐 BTC reached an intraday high of $63,717 during the recovery. The bounce also moved the price above the $63,166 level, which marks the 78.6% Fibonacci retracement of the advance from $57,803 to $82,864. Holding above that retracement level keeps Bitcoin inside the range formed after its June sell-off. However, the daily chart shows that BTC has not yet reversed the wider decline from its May peak.

➡️ The recovery coincided with modest gains in US equity futures. Nasdaq 100 futures rose as technology shares led a broader risk-asset rebound, while lower expectations for another aggressive Federal Reserve rate increase supported demand for Bitcoin. The dollar fell to a 10-day low as Treasury yields eased. A weaker dollar can support assets priced in dollars, although elevated bond yields remain a source of competition for capital.