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Points of Focus
- Bitcoin traded at $65,197.61 on Monday, up 4.2% over seven days.
- US spot Bitcoin ETFs drew $854 million last week, led by IBIT’s $694 million.
- BTC holds above the $64,693 50-day EMA, with $65,800 to $66,870 resistance ahead of Wednesday’s CPI.
Bitcoin traded at $65,197.61 on Monday, up 4.2% over the past seven days as renewed ETF demand and weaker US labor data helped push the price back above $65,000.
The rebound has put Bitcoin back above a key short-term support level, but Wednesday’s July inflation report arrives before BTC has cleared the $65,800 to $66,870 resistance zone.
Bitcoin ETF inflows return as BTC retakes $65K
US spot Bitcoin ETFs recorded $854 million in net inflows from Aug. 3 through Aug. 7, according to SoSoValue, with BlackRock’s IBIT contributing about $694 million. IBIT accounted for more than 80% of the weekly total as Bitcoin moved back above $65,000.
Bitcoin Spot ETFs Saw $854M in Net Inflows Last Week; Ethereum ETFs Took In $245M
From August 3 to 7 (ET), Bitcoin spot ETFs recorded $854 million in net inflows, while Ethereum spot ETFs saw $245 million, marking five consecutive weeks of inflows. Solana, XRP and HYPE spot ETFs… pic.twitter.com/64xtJ53EcS
— Wu Blockchain (@WuBlockchain) August 10, 2026
Despite $854 million in weekly ETF inflows, BTC remains below the 100-day EMA around $66,870. It has reclaimed $65,000 and holds above the 50-day EMA near $64,693, while RSI near 54 points to improving momentum without an overbought reading. The next test is whether BTC can move through the $65,800 to $66,870 resistance area.
Bitcoin price faces $65,800 resistance before US CPI
Michael van de Poppe, founder and CIO of MN Fund, identified $65,800 as the weekly level Bitcoin needs to clear, with $73,700 as his first upside target. BTC still trades below that trigger and the 100-day EMA, leaving the breakout case unconfirmed.
$BTC is ready for a breakout to atleast $73,700.
To me, there's one critical level to break.
That's the weekly level at $65,800.
When I'm looking at the charts, I don't think we'll test lower as the arguments are simply not there.
➡️ The MACD of multiple #Altcoins look… pic.twitter.com/uZ9FlMjz4B
— Michaël van de Poppe (@CryptoMichNL) August 9, 2026
Friday’s jobs report also shifted the rate outlook. The Bureau of Labor Statistics said US nonfarm payrolls fell by 23,000 in July, while May and June payroll estimates were revised down by a combined 103,000. That report reduced pressure on the Federal Reserve to raise rates soon, after the Fed held its target range at 3.50% to 3.75% on July 29 despite three dissenters favoring a 25-basis-point increase.
July CPI is due Aug. 12 at 8:30 a.m. ET. Economists polled by Reuters expect headline inflation to ease to 3.4% from 3.5% in June and core inflation to slow to 2.5%. Bitcoin enters that release above $65,000, but still below the $65,800 to $66,870 resistance band.
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