Bitcoin price rebounds from $63,200 as CPI looms

Bitcoin price recovered above $64,000 on Aug. 12 after a leveraged-position flush drove BTC into the $63,200 support zone ahead of key U.S. inflation data. Summary Bitcoin rebounded from $63,200 to about $64,130 after breaking below $64,000. Cumulative long-short positioning fell by roughly $174 million during the decline. The 4-hour chart places resistance near $64,400 and $65,500. Liquidity remains concentrated around $63,000 below and $64,700–$65,900 above. Bitcoin price action today According to data from crypto.news, Bitcoin (BTC) price was trading near $64,130 at the time of writing, up 0.83% on the daily candle after moving between $63,534 and $64,218. BTC had fallen toward $63,200 earlier in the session as sellers pushed the price below the psychologically important $64,000 level. Buyers entered near the lower end of the recent range, allowing Bitcoin to retake $64,000 without reversing the broader consolidation. The recovery followed a sharp reduction in leveraged exposure. Yahoo Finance reported that Bitcoin’s cumulative longs and shorts delta dropped from more than $400 million to $226 million, representing a decline of about $174 million. The $174 million figure measure...