Bitcoin Holds Near $64K as Breakout Hinges on $64,300 Four‑Hour Close

Confirming a four‑hour close above $64,300 would signal whether fresh institutional demand can sustain a lasting rally for Bitcoin.

Overview

Bitcoin traded around $64,270 on Wednesday and remained rangebound with little follow‑through from record equity gains or falling oil prices.
Analysts say a four‑hour close above about $64,300 is the immediate trigger for a bullish move and that sustained clearance of the mid‑$66,000s would be needed to confirm a full breakout.
U.S. spot Bitcoin ETFs showed a modest $19.6 million inflow on Aug. 4 after much larger withdrawals earlier, leaving institutional flows mixed and fragile.
On‑chain data are mixed: weekly active addresses rose roughly 20 percent, signaling more user activity, while CryptoQuant recorded over 20,000 BTC moved to exchanges and Strategy disclosed a sale of 1,638 BTC, both raising potential selling pressure.
A possible temporary U.S.‑Iran‑Oman shipping arrangement for the Strait of Hormuz remains unconfirmed and could change oil prices and yields in ways that materially affect Bitcoin demand.