Bitcoin defended support near $62,100 on August 1, but the August 2 rebound faded around the 50-day SMA, leaving $63,600 resistance untested.

Bitcoin opened August below a key support band, while Santiment recorded its most bearish Bitcoin commentary ratio since modern tracking began.

Bitcoin started on July 31 at $64,700, reached $65,340, and trades at $63,660 at the time of writing, down roughly $1,050 on the session.

The Bank of Japan held its policy rate at 1.0% on July 31, six weeks after raising borrowing costs in June.

Strategy holds 843,775 BTC bought at an average of $75,476, against a price near $64,800 at the time of writing. That puts the position roughly $9 billion below the $63.69 billion the company spent acquiring it.

Bitcoin has declined during the August–September window before all three U.S. midterms in its trading history, then fallen further in the fourth quarter each time.

The Federal Reserve left its benchmark rate unchanged at 3.50%-3.75% on July 29, extending its pause for a sixth consecutive meeting as policymakers continue to assess persistent inflation.

Bitcoin’s recovery above $65,000 lasted less than a full session. After reaching roughly $65,600 on July 27, BTC gave back the entire move and returned to the support area it had defended last week.

Bitcoin traded near $65,150 at the time of writing, up approximately 1.3% over 24 hours after the United States and Iran refrained from striking each other for a second consecutive day.

The Bank of Japan holds its next monetary policy meeting on July 30 and 31, six weeks after raising its policy rate to 1%, the highest level in 31 years.

Bitcoin traded near $64,300 on July 26, 2026, after defending the 0.236 Fibonacci retracement at around $63,600. The 50-day simple moving average sits roughly $400 beneath it at $63,240, leaving two distinct floors close together.

Bitcoin is not showing a clean bullish reversal or a renewed capitulation. The data instead points to a market capable of producing a sharp rebound through positioning, but one that still needs stronger spot accumulation and improving capital flows to turn that move into a sustainable recovery.