Bitcoin price August 5 2026 hits $64,578, up 0.85% in 24 hrs

Bitcoin opened at $64,578.77 on August 5 2026, marking a 0.85% gain over the previous 24 hours and keeping the asset just above the $62,300‑$62,500 support zone that has anchored recent rallies [2]. The move comes as sellers struggle to break the rising trendline, while a dip in the U.S. Dollar Index and modest gains in equities have provided modest macro support.

Technical backdrop and market context

Bitcoin has been confined to a descending channel for weeks, repeatedly testing the $62,300‑$62,500 support band. The recent price action rebounded from this zone after a brief fake breakout below support, suggesting that buyers are still able to defend the level despite overall bearish pressure [1]. On the broader market, the U.S. Dollar Index has slipped, reducing the dollar‑denominated cost of Bitcoin and nudging the asset higher, while the S&P 500 and gold have posted modest gains that often correlate with crypto inflows.

On‑chain and token‑metric snapshot

The cryptocurrency’s circulating supply stands at 20.1 million coins, representing 95.55% of the total 21 million supply, and the fully diluted market cap sits near $1.4 trillion [2]. Daily transaction volume reached $23.6 billion, underscoring continued liquidity despite price consolidation. No major token unlocks are scheduled in the near term, keeping supply pressure relatively stable.

What to watch

• Resistance at $65,500‑$66,000 – a break above this range could signal a shift toward higher‑timeframe bullish momentum.
• U.S. Dollar Index trends – further weakening may provide additional upside support for Bitcoin.
• Upcoming on‑chain metrics – watch for large‑wallet (whale) movements that could test the $62,300 support level.

The price holding above the $62,300‑$62,500 floor suggests that short‑term bearish pressure is easing, but the proximity to the $65,500 resistance means the next few days could determine whether Bitcoin resumes a broader uptrend or re‑enters a deeper correction.