Bitcoin Fails to Break Above $65,000 Amid Resistance

Bitcoin's recent surge to nearly $65,000 has been met with resistance, preventing the cryptocurrency from securing a sustained breakout. According to CoinGecko data, Bitcoin was trading around $64,500 on Sunday after reaching an intraday high of $65,026.90.

The 3% gain over the past seven days comes as institutional demand and derivatives-driven buying have fueled the advance. However, market data and chart indicators suggest that these drivers are not strong enough to overcome one of Bitcoin's most closely watched resistance zones.

A combination of renewed ETF inflows and softer-than-expected US inflation data has encouraged institutional investors to increase exposure to risk assets, including Bitcoin. BlackRock's iShares Bitcoin Trust led several consecutive sessions of positive flows, bringing hundreds of millions of dollars back into the market.