In this video I break down the latest Bitcoin price action to determine if the recent market movement confirms a bullish reversal or a continuation of the broader bear market structure. By applying Elliott Wave analysis to the daily and lower time frames, I evaluate the validity of the current move from the August low and identify the critical technical levels that will dictate the next major trend. Video by More Crypto Online.
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Bitcoin (BTC) is trading at approximately $64,251.78 as of today, August 7, 2026, remaining virtually flat with a minor 24-hour decline of 0.02%.
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Bitcoin Insights Today
-Whale Inflows Surge: Aggressive whale accumulation has been recorded, with addresses holding 10 to 10,000 BTC absorbing over 20,000 BTC (worth $1.2 billion) since July 29.
-ETF Demand Rebounds: U.S. spot Bitcoin ETFs registered $754.69 million in net weekly inflows, marking their strongest institutional demand performance since April.
-Macro Catalyst Awaited: Market volatility has temporarily flattened. Traders are sidelined ahead of the imminent U.S. July Non-Farm Payrolls (NFP) jobs report and unemployment data, which will dictate the Federal Reserve's next interest rate trajectory.
-Regulatory Impasse: Momentum is cooling as optimism fades for a swift pre-recess Senate passage of the U.S. CLARITY Act crypto market structure legislation.
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