Bitcoin holds above $63,000 amid weak ETF flows; FOMC minutes in focus

Investors should avoid chasing short-term price moves, stagger their entries and closely track institutional flows, key support levels and broader macro signals before increasing exposure.

• Bitcoin price recovered to $63,577 after a drop.
• Analysts watch $64,000 as key resistance level.
• Macro factors like ETF flows, FOMC minutes are key.

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Bitcoin price dropped near $62,670 in the early August 17 trade, but quickly recovered those losses to trade 0.19 percent up at $63,577.91 (12:30 IST) over the last 24 hours and 0.91 percent in a week.

Crypto analysts suggests traders watch for weaker Bitcoin ETF flows, elevated oil prices and continued US-Iran uncertainty, as well as Wednesday’s FOMC minutes as next major macro catalysts. A stronger case for tighter monetary policy could further pressure risk assets, including crypto.

According to Nischal Shetty, founder at WazirX, institutional demand remained resilient despite softer ETF flows. US spot Bitcoin ETFs recorded daily outflows between approximately $57.6 million and $131.1 million during the final sessions of the week, following an earlier inflow of more than $853 million. "The pattern points to short-term consolidation rather than a broad institutional exit.”