Bitcoin rose above $66,000 on Tuesday, marking its highest level in more than a month amid renewed ETF inflows and reduced selling pressure on exchanges.
The largest cryptocurrency traded as high as $66,277 after climbing roughly 3 percent from the previous close. The advance extended a 15 percent rebound from early July lows and came as U.S. spot Bitcoin ETFs recorded five consecutive days of net inflows totaling about $727 million.
Withdrawals from major exchanges added support, with roughly $686 million in Bitcoin leaving platforms including Binance on July 20. Analysts noted that the move reduced immediate supply available for sale, though stablecoin flows remained negative and overall trading volumes stayed subdued.
Bitfinex analysts identified $68,000 as the next key resistance level, citing the average purchase price of recent buyers and a prior high from mid-June. K33 Research described current conditions as a typical summer lull with institutional participation fading.
Oil prices eased after diplomatic efforts in the Middle East, though analysts warned that renewed energy shocks could limit broader risk appetite. Bitcoin now faces a further test near $72,200 for a broader recovery.
