Bitcoin dollar price focuses on liquidity squeeze, 67K resistance level approaches

Key insights

Bitcoin prices are still below the holder cost base of $67,000.

The U.S. spot Bitcoin ETF achieved net capital inflows for five consecutive trading days.

If Bitcoin breaks through resistance, liquidity above may increase volatility.

On August 9, Bitcoin trading prices were close to US$64,800, and buyers were approaching an area of intense resistance. The price of Bitcoin is still below $67,000, and the actual purchase cost for holders has been higher recently.

Last week, institutional demand improved, and the U.S. spot Bitcoin ETF recorded net inflows for five consecutive trading days. However, Bitcoin is still below the recent holder cost base, and the market is in a game between increased demand for ETFs and a sell-off from potential underwater investors.

This resistance level is important because when prices return to average buying levels, holders tend to reassess their positions. Breaking through the first cost base range will test whether new demand can absorb additional supply.

Bitcoin prices remained around US$65,000 after a weekly rebound

According to OpenAI's financial market data, Bitcoin closed at US$64,794 million on Sunday trading hours. The price range for the day fluctuated between US$64,696 and US$65,140, and eventually stabilized near the middle price.

This narrow fluctuation occurred after several consecutive days of positive inflows in the U.S. spot Bitcoin ETF. Farside Investors recorded net inflows for every trading day from August 3 to August 7. Based on its daily fund data, total inflows over the five days were approximately US$865 million.

BlackRock's iShares Bitcoin Trust led the way on multiple trading days during the period. Farside records showed net inflows to IBIT of $111.4 million on August 3 and $196.8 million on August 5. The fund added another $86.7 million on August 7, while Fidelity's FBTC received $41 million.

BlackRock's iShares page shows that IBIT's net asset value on August 7 was US$36.74. The fund rose 0.78% on the day, but its year-to-date return on equity remains negative. BlackRock also reported net assets of $48.42 billion and daily trading volume of 35.1 million shares.

Bitcoin prices face cost-base resistance around US$67,000

CryptoQuant analyst ShayanMarkets pointed to two realized price ranges above the Bitcoin spot price. The realized price for the 1-to 3-month holder group is close to US$67,000, and for the 3-to 6-month holder group is close to US$72,000.

Bitcoin realized price UTXO age range. Source: CryptoQuant

These levels are important because both groups are losing money when bitcoin transactions approach $65,000. Holders approaching their purchase costs may reduce exposure, creating potential selling pressure around these ranges.

The first obstacle is close enough to affect today's Bitcoin price. If the price continues to exceed US$67,000, the price will enter the cost base range of the first group. Recovering $72,000 would clear the second reported realized price threshold.

Source: Crypto King

Crypto Rover also found a large area of concentrated liquidity above the spot price of Bitcoin. Crypto King described similar clusters below the centralized clearing level. Their observations support that the focus in the near term should be on upper liquidity rather than distant upside targets.

Bitcoin price forecasts depend on liquidity above the spot price

The liquidity layout produces two competing outcomes, neither with confirmed direction. Rising prices could trigger short liquidations above spot prices and accelerate movement towards resistance. Conversely, if it is rejected, Bitcoin may remain within the current range.

Bitcoin ETF's daily net flow of BTC positions (US dollars). Source: CryptoQuant

CryptoQuant reported that between August 3 and August 5, U.S. spot Bitcoin ETF inflows were approximately US$626 million. The research institute described this as capital re-entering regulated Bitcoin products.

Farside's broader five-day data set shows demand continues into Friday. However, the inflow of ETFs did not push Bitcoin beyond the $67,000 holder cost base. This gap suggests that spot demand has improved, but does not solve the supply problem above.

CryptoQuant also reported another constraint on U.S. spot demand ahead of the latest ETF boom. Its Coinbase premium gap was negative for 90 consecutive days ending August 3. This indicator compares Coinbase's pricing with overseas exchanges and reflects relative U.S. purchasing pressure. The data showed that ETF demand has improved amid a weaker broader U.S. spot background.

BlackRock described IBIT as a tool designed to track Bitcoin price performance. Its structure allows investors to gain Bitcoin exposure through exchange-traded products rather than direct custody. As a result, continued capital inflows provide a measurable channel for regulated market demand.

Bitcoin tests US$67,000 as next resistance level

The next verifiable technical level is still close to the realized price range of US$67,000. A closing above this region would weaken the immediate cost base resistance pointed out by Shayan Markets. If it fails to break through, the $72,000 range will remain outside the short-term recovery structure of Bitcoin.

Bitcoin price forecasts also depend on whether ETF demand continues after five consecutive trading days of inflows. Farside's next trading day traffic update will show whether institutional buying continues beyond August 7. Until then, prices were still below the first reported threshold of holder resistance.