Bitcoin Struggles to Break $64,300 Despite Record Stock Markets

Bitcoin is currently trading near $64,068, struggling to push past the $64,300 mark. Even though global equity markets like the S&P 500 recently reached all time highs, Bitcoin has remained stuck in a narrow range. Traders are watching this level closely, as reclaiming it could signal a change in market momentum.

Recent macro data looks promising for digital assets. Oil prices have dropped and Treasury yields have eased, conditions that often help non yielding assets. While U.S. spot Bitcoin ETFs saw a modest inflow of $19.6 million recently, it follows a period of heavy outflows. Investors are also noting that large sales by major holders are being absorbed by the market, suggesting a potential bottom is forming.

The current recovery attempt has been building higher lows for six weeks, which is the most positive sign the market has seen in months. However, the $64,000 to $65,000 zone remains a tough ceiling. If Bitcoin can manage a daily close above $65,000, it could set the stage for a move toward $68,000 and beyond. On the other side, holding the $60,000 floor is vital to keep this recovery trend alive.