Bitcoin traded near $64,262 on Tuesday, gaining 1.2% over 24 hours as it held inside its multi-month consolidation range. Hyperliquid's HYPE outperformed while Worldcoin and Filecoin led losses among top-100 assets, and a jump in Brent crude added pressure on wider risk markets.
Bitcoin rose above $64,000 on Tuesday, Aug. 18, trading near $64,262 and gaining 1.2% over 24 hours and 0.5% over seven days. Its market capitalization stood near $1.29 trillion, with about $21.6 billion in daily trading volume.
The recovery followed a volatile week in which sellers repeatedly defended the $64,400 to $65,400 area. BTC fell as low as approximately $62,500 on Friday and briefly revisited $62,600 on Monday before recovering.
Bitcoin holds inside its consolidation range
Bitcoin has traded mainly between $60,000 and $66,000 since the sharp June selloff, and Tuesday's move did not establish a breakout from that range. The first resistance area remains between $65,000 and $66,000, while support sits around $63,000, followed by the recent lows between $62,000 and $62,600.
Its market dominance remained below 57%, meaning altcoins still represented more than two-fifths of the total cryptocurrency market. Meanwhile, the daily MACD line stood near minus 96.84, slightly below its signal line — a reading that points to weak bearish momentum rather than an accelerating decline. Some analysts are watching Bitcoin's 200-week simple moving average, near $63,700; Rekt Capital said turning that level into resistance "would be the confirmation" for deeper downside.
Altcoins diverge as HYPE outperforms and Worldcoin drops
Hyperliquid's HYPE rose 1.9% to $59.90 and gained 8.2% over seven days, among the strongest large-capitalization assets Tuesday. Ether traded near $1,901, up 0.2% over 24 hours, while Solana gained 0.7% to about $75.95.
However, Worldcoin recorded the largest decline among the top 100 assets, falling 10.8% to approximately $0.324, while Filecoin dropped 6.5% to $0.627. Cardano fell 1.9% to about $0.173, and XRP slipped 0.4% below $1.
Oil price gains add pressure to the wider market
Brent crude rose to approximately $91.76 a barrel on Tuesday, as fading hopes for an extended U.S.-Iran ceasefire raised concerns about supply through the Strait of Hormuz, Reuters reported. Asian equities and bonds weakened as investors weighed the effect of rising oil costs and government borrowing.
Bitcoin nevertheless moved higher during the session, showing short-term relative strength against traditional risk markets. The immediate levels to watch are $65,000 to $66,000 on the upside and $62,000 to $63,000 on the downside.
Source: crypto.news
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