Bitcoin BTC Breaks Through 64,000 USD, But the Market Has Not Overall Strengthened
On August 18th during the Asian trading session, Bitcoin broke through 64,000 USD again, with a 24-hour increase of over 1%, becoming one of the strongest mainstream crypto assets of the day.
Interestingly, this rise did not spur a synchronized strengthening of the entire crypto market.
Ethereum slightly retreated to around 1,900 USD, XRP fell to around 1 USD, and BNB and TRON also experienced minor corrections, while DOGE also dipped slightly.
SOL remained basically flat, while HYPE performed relatively well, with its price rising back above 59 USD, showing a 7.5% increase over the past 7 days, clearly leading other mainstream assets.
In other words, the current market is not simply characterized by "bull market rise" or "broad decline," but shows very obvious sector differentiation.
Bitcoin BTC is relatively strong, while most altcoins still lack sustained buying interest.
The Real Pressure on Bitcoin Still Comes From the 64,000 to 65,000 USD Range
From a technical perspective, Bitcoin still has not completely escaped the oscillation pattern.
FxPro's chief market analyst Alex Kuptsikevich pointed out that Bitcoin had previously attempted to break through the 50-day moving average, but has now been running below the 50-day moving average for four consecutive days.
Meanwhile, from a longer-term perspective, BTC remains below the 200-week moving average.
This indicates that the current short-term rebound does not mean that a medium to long-term trend reversal has occurred.
At present, Bitcoin is still oscillating within the range of 62,000 to 65,000 USD.
The signal that can truly change the market structure may still be an effective breakout above 65,000 USD, or a drop below 62,000 USD.
If BTC can stabilize above 65,000 USD with increased volume, market confidence in the continuation of the rebound may further strengthen.
However, if selling pressure continues near 65,000 USD, then this rise may still only be a rebound within the oscillation range.
📌 Therefore, what is really worth paying attention to now is not "how much BTC rose today," but whether it can break through the current oscillation range. If you want to further track the key support and resistance levels of BTC daily, you can also follow the public account "Crypto Spring and Autumn" for continuous updates on market hotspots and trading logic.
Why is Bitcoin Relatively Resilient This Time?
Aside from technical aspects, the market structure itself is also changing.
The current performance of the Bitcoin market shows a certain degree of divergence from traditional risk assets and other crypto assets.
On one hand, as the core asset of the entire crypto market, Bitcoin is usually more easily noticed by funding when risk appetite decreases, compared to smaller market cap tokens.
On the other hand, the current market remains very sensitive to regulations, macroeconomic conditions, and liquidity.
Therefore, when investors are unwilling to fully bet on risk assets, funds tend to concentrate on BTC rather than spreading to the entire altcoin market.
This also explains why BTC can break back above 64,000 USD, while ETH, XRP, DOGE, and other assets did not strengthen simultaneously.
This does not mean the market lacks funds, but rather that funds are becoming increasingly selective.
More Worth Noting: Bitcoin Miners are Accelerating the Shift to AI
There is another very noteworthy change in this report.
Publicly traded Bitcoin mining companies have cut about 21% of their computing power over the past three quarters.
The reason is not complicated.
As the demand for AI infrastructure continues to grow, computing power, electricity, and capital are becoming increasingly scarce resources.
Bitcoin mining requires a lot of electricity, while AI data centers also need vast energy and computing resources.
For some miners, rather than continuing to rely on the volatile profits from Bitcoin mining, it is more advantageous to redirect existing electricity resources, data centers, and infrastructure to AI computing.
This effectively means:
"Bitcoin miners" are gradually transforming into "digital infrastructure companies."
In the long term, this may change the entire business model of the Bitcoin mining industry.
AI is Redefining the Value of Bitcoin Mining Companies
In the past, the core indicator for evaluating Bitcoin miners in the market was usually:
The price of Bitcoin.
When BTC rises, mining companies' profits improve; when BTC falls, mining companies' profitability is compressed.
However, this logic is now changing.
If mining companies can convert their electricity and data center infrastructure into AI computing power, then their future sources of income will no longer only derive from Bitcoin.
This is also why the market has begun to refocus on mining companies’ AI transformation.
Meanwhile, the AI industry itself has also shown some positive signals.
This report mentions that the AI platform Venice, founded by crypto industry entrepreneur Erik Voorhees, announced that its annualized revenue has surpassed 100 million USD, with its VVV token rising about 10% that day.
This indicates a trend:
The boundaries between the crypto industry and the AI industry are becoming increasingly blurred.
In the future, what is worth paying attention to may no longer be "who is mining Bitcoin," but rather who controls the electricity, computing power, data centers, and AI infrastructure.
But Oil Prices Breaking Back Above 91 USD May Become a New Variable for the Market
If AI represents the structural changes occurring in the market, then oil prices are one of the biggest macro risks currently facing us.
Brent crude oil prices have broken back above 91 USD per barrel.
The biggest impact of rising oil prices is not on Bitcoin directly, but may rekindle market concerns about inflation.
If energy prices continue to rise, U.S. inflation may face renewed pressure, potentially limiting the Federal Reserve's room for future rate cuts.
For BTC, interest rate expectations will directly affect dollar liquidity and global risk asset valuations.
Therefore:
Rising oil prices → Heightened concerns about inflation → Decreased expectations for rate cuts → Pressured liquidity → Pressured risk assets.
This logical chain is still a macro variable that the current crypto market must pay attention to.
📌 If you want to continuously track BTC, ETH, HYPE, and the impact of macro data on the market, you can follow the public account "Crypto Spring and Autumn," which explains important market changes and the underlying logic every day.
What Should We Really Focus on for BTC Next?
Overall, Bitcoin's price movement is currently in a fairly delicate position.
In the short term, BTC has broken back above 64,000 USD and has become the strongest mainstream asset of the day, indicating that buyers have not completely exited the market.
However, from a medium-term trend perspective, BTC is still restricted by the oscillation range of 62,000 to 65,000 USD, while the 50-day and 200-week moving averages are also forming certain pressure.
Therefore, the following three positions can be重点观察:
First, 62,000 USD.
If it falls below this level, it means the current oscillation structure may weaken further.
Second, 64,000 to 65,000 USD.
This is a key area for whether the current rebound can continue.
Third, above 65,000 USD.
If it can effectively break out and stabilize, market sentiment may show significant improvement.
In Conclusion
The current crypto market has not shown a very clear one-sided trend.
BTC has returned above 64,000 USD, but most mainstream coins remain weak; HYPE continues to perform outstandingly; meanwhile, oil prices have broken back above 91 USD, and concerns over inflation and interest rates have once again intensified.
More importantly for the long term, Bitcoin mining companies are transitioning to AI infrastructure, meaning the crypto industry is developing deeper connections with the AI, computing power, electricity, and data center industries.
Future real opportunities in the market may not only lie within a single token, but at the intersections of these industrial trends.
—— I am Mr. Web3 X, with 6 years in Web3, focused on Bitcoin, the crypto market, macroeconomics, and industry trends.
If you want to gain a more systematic understanding of the key variables that truly influence the market every day, feel free to follow the public account "Crypto Spring and Autumn" to understand the logic behind market trends, rather than just fixating on price fluctuations.
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