Bitcoin recovery stalls after June sell-off
Bitcoin entered July in a fragile position following one of its most difficult periods of 2026.
The cryptocurrency had fallen below $58,000 at the end of June after a prolonged sell-off driven by tighter financial conditions, elevated Treasury yields, inflation concerns and heavy ETF redemptions.
The beginning of July initially brought a significant improvement.
Bitcoin recovered above $63,000 and subsequently nearly climbed to $67,000 as ETF flows turned positive and risk appetite improved. The move provided some relief after the cryptocurrency had fallen by more than 20% during June.
However, the recovery has since stalled.
Bitcoin has spent much of the past several weeks trading between roughly $62,200 and $65,700, with neither buyers nor sellers able to establish sustained control.
By 12 August, BTC was trading close to $64,000, with investors adopting a cautious stance ahead of the latest US CPI report.
The inability to make further progress is particularly notable given the performance of several equity markets.