TLDR
- Bitcoin briefly topped $65,000 on Aug. 10, trading near $64,955 at time of writing, up 3.4% over seven days.
- U.S. July payrolls fell 23,000, reducing expectations for another Federal Reserve rate hike.
- U.S. spot Bitcoin ETFs saw $854 million in weekly inflows, with BlackRock’s IBIT leading at $694 million.
- July CPI data drops Wednesday, Aug. 12, with economists expecting headline inflation to ease to 3.4%.
- Analyst Michaël van de Poppe called $65,800 the “critical level,” citing a potential move to $73,700.
Bitcoin climbed above $65,000 during early trading on Monday, Aug. 10, reaching an intraday high of $65,363 before pulling back slightly. At the time of writing, BTC was trading near $64,955, up 0.3% over 24 hours and 3.4% over the past seven days.
The move followed Friday’s U.S. jobs report, which came in weaker than expected. The economy lost 23,000 nonfarm payroll jobs in July, while unemployment held near 4.1%. Revisions also removed 103,000 jobs from May and June estimates combined.
That data shifted market expectations. Futures markets put the probability of a September Fed rate increase at 44%, down from 67% a week earlier.
The Federal Reserve held its target rate at 3.50% to 3.75% on July 29. Three voting officials had preferred a 25 basis point hike, and the Fed noted inflation remains above its 2% target.
Analyst Ted Pillows weighed in on the price action, noting that $BTC is still holding above its uptrend and that as long as $63,000 holds, Bitcoin has a decent chance of pushing higher from current levels.
$BTC is still holding above its uptrend.
As long as $63,000 is not lost, Bitcoin has a decent chance of pumping from here. pic.twitter.com/zNErJuOghQ
— Ted (@TedPillows) August 9, 2026
Bitcoin ETF Inflows Pick Up
Institutional demand strengthened last week. SoSoValue reported $854 million in net inflows into U.S. spot Bitcoin ETFs between Aug. 3 and Aug. 7. BlackRock’s IBIT alone accounted for $694 million of that total.
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
Farside’s data shows a slightly different figure of approximately $865.3 million across the same five sessions. The difference reflects dataset methodology rather than conflicting results.
Despite the strong ETF flows, Bitcoin remained rangebound near $64,200 for much of last week before pushing higher on Friday.
Technical Levels to Watch
The Relative Strength Index sat at 55.07, above its moving average of 50.44, pointing to moderate bullish momentum. The Awesome Oscillator was positive at 664.19, supporting that picture without signaling a major breakout.
Analyst Michaël van de Poppe called $65,800 the “critical level” in an Aug. 9 post, citing bullish divergence in RSI and MACD readings. He stated BTC was “ready for a breakout to at least $73,700.”
$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
The $65,000 to $66,000 range has repeatedly acted as resistance. Bitcoin traded near $62,500 at the start of last week before recovering to current levels.
Across the broader market, Solana led gains among major assets, up nearly 5% over seven days. XRP was the only major in the red, down 4% on the week.
Wednesday’s CPI report remains the next scheduled catalyst, with economists expecting July headline inflation to ease to 3.4% annually and core inflation to slow to 2.5%.
