.png){kind=logo}
Bitcoin holds near $64,637, with analysts watching $65,500 as the breakout level and $63,500–$62,500 as the key support zone for the next move.
Ethereum gained 2.5%, extending its weekly rise beyond 10%, while XRP (+1.22%) and Solana (+1.28%) led broader altcoin strength during the session.
Cooling US inflation and $181 million Bitcoin ETF inflows improved market sentiment, while upcoming Fed comments and producer inflation data remain the next major catalysts.
Bitcoin held its ground near $64,637 on Thursday, extending a steady recovery that began after softer US inflation data eased worries over further Federal Reserve tightening. Traders had braced for a hotter reading given rising oil prices tied to Middle East tensions, but the cooler print instead pulled Treasury yields lower and revived appetite across risk assets.
Most major tokens joined the broader move higher, though gains varied sharply by coin. Ethereum remained the standout large-cap performer, posting a weekly advance of over 10%, while Bitcoin consolidated gains built over the past two sessions. Markets now turn their attention to upcoming producer price data and fresh Fed commentary for the next directional cue.
Bitcoin trades near $64,636.95, up 0.10% over the past 24 hours. This reflects CoinMarketCap data tracked through today's session. Price action stays tied to inflation expectations and ETF flow trends.
Here are views from leading crypto analysts on Bitcoin's price structure, key levels and the factors shaping sentiment today.
The CoinSwitch Markets Desk said BTC climbed to a three-week high of $65,500. Softer US producer inflation reinforced Tuesday's cooler CPI print. Cooling inflation reduced expectations of further Fed tightening.
The desk flagged resistance near $67,200. A sustained breakout could open a path toward $70,000. It warned that BTC's approach toward its 50-month EMA has historically acted as resistance in bearish phases.
Riya Sehgal, Research Analyst at Delta Exchange, said softer inflation pulled Treasury yields and the dollar lower. This supported both equities and crypto. Bitcoin briefly reclaimed $65,000 but still struggles for acceptance above $65,000 to $66,000.
She placed first support near $64,200. She flagged Ethereum's RSI near 71 as a sign of stretched conditions near the $1,940 to $1,975 resistance band.
Nischal Shetty, founder of WazirX, said crypto markets are seeing renewed optimism. Softer inflation data eased concerns over further rate hikes. Bitcoin and Ethereum spot ETFs both recorded fresh inflows last week.
He flagged the $63,800 to $64,000 zone as key support for futures traders. A break below $62,500 to $62,800 could trigger increased selling pressure.
Also Read: Bitcoin Under Pressure: Key Downside Risks Every BTC Investor Should Watch
Vikram Subburaj, CEO of Giottus, placed Bitcoin near $64,670, broadly unchanged on the day. Softer inflation data reduced expectations of an immediate Fed rate hike. Rising oil prices, though, continue to cap further gains.
He flagged a $424.7 million ETF outflow on July 13. This was followed by a $181.1 million inflow on July 14. He advised staggered buying until ETF demand turns more consistent.
Here is a look at today's top crypto prices, based on CoinMarketCap data as of July 16.
Biggest Gainers: ETH, XRP, SOL
Ethereum led large-cap gains, up 2.50% and nearing a 10% weekly advance. XRP added 1.22%. Solana rose 1.28%, extending broad altcoin strength through the session.
Steadiest Performers: USDT, USDC, BTC
Tether and USDC held close to their dollar peg. Bitcoin stayed nearly flat, consolidating after its earlier move above $65,000 this week.
Producer inflation fell 0.3% month-on-month. This reinforced a softer CPI print released a day earlier. The reading pulled Treasury yields lower and firmed risk appetite across equities and crypto.
Fed officials struck a cautious tone despite cooling data. The Beige Book showed price growth held flat or slowed across all districts. Dovish comments from a regional Fed president reduced near-term hike odds further.
US spot Bitcoin ETFs pulled in roughly $181 million on Tuesday. This followed an outflow of about $425 million a day earlier, per SoSoValue data. Ether ETFs added nearly $58 million in the same session.
The rebound suggests institutional demand may be stabilizing. Analysts view consistent inflows as key for whether Bitcoin sustains its move back above $65,000.
Japanese lawmakers moved to recognize crypto as a financial asset. This paves the way for lower crypto taxes going forward. Officials said the asset class has outgrown its original payment-focused framework.
The shift marks a significant regulatory tailwind for institutional adoption. Analysts see it as part of a broader global trend toward clearer crypto tax treatment.
The Digital Asset Market CLARITY Act remains without a scheduled floor vote. Disputes over stablecoin provisions and ethics rules continue to block progress on the bill.
Regulatory uncertainty keeps weighing on the medium-term US policy outlook. A prolonged delay risks pushing the bill's timeline toward the tougher midterm election calendar.
South Korea's government is modifying a decades-old law to formally classify crypto as a national asset. The plan also includes piloting tokenized government bonds next year.
The move adds South Korea to a growing list of economies updating digital asset frameworks. Analysts see it as another step toward mainstream institutional integration.
Also Read: Crypto News Today: XRP Selling Pressure Grows as Schwartz Defends College Sports Ads
Bitcoin holds near $64,600 as cooling inflation data offsets lingering geopolitical risk. A sustained close above $65,500 would strengthen the case for a retest of $67,200. A slip under $63,500 risks exposing the $62,500 support zone.
Ethereum trades near $1,918, with continued outperformance suggesting rotation toward institutional-grade altcoins. Fresh ETF inflows across both Bitcoin and Ethereum point to steadier institutional participation this week.
Upcoming producer price data and Fed commentary remain the key catalysts ahead. A softer reading would likely extend the current rally. A hot surprise, though, could revive rate-hike bets and pressure risk assets.
What is the Bitcoin price today?
Bitcoin trades near $64,636.95, up 0.10% over the past 24 hours. The $64,000 zone remains key support for traders, while $65,500 stands as the next resistance level to watch through today's trading session.
Why is Bitcoin holding steady today?
Bitcoin is holding steady after softer US producer and consumer inflation data eased concerns over further Federal Reserve rate hikes. The cooler prints pulled Treasury yields lower, supporting risk appetite across both equities and crypto markets.
What is happening with the CLARITY Act?
The CLARITY Act remains stuck in the Senate with no floor vote scheduled yet. Disputes over stablecoin provisions and ethics rules continue blocking passage, leaving regulatory uncertainty layered over the broader US crypto policy outlook.
Why did Japan's crypto reclassification matter?
Japan's move to recognize crypto as a financial asset paves the way for lower crypto taxes and signals growing regulatory comfort. Analysts view it as a meaningful step toward broader institutional adoption across Asian markets.
What should investors watch this week?
Investors should track upcoming producer price data, Fed commentary, ETF flow trends and developments around Middle East tensions, since all four factors are likely to steer near-term crypto price action and overall market sentiment.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
