In our previous daily Bitcoin price prediction, we gave three possible paths. Above $67,000 and it could hit $68,000–$69,000. Between $64,000 and $67,000 if everyone just watched ETF flows and economic data. Below that, $63,000 comes first, then $62,500 as the next floor.
So far, the middle one won. Bitcoin dropped 0.69% to $64,382, almost the same as the whole crypto market, which fell 0.71%.
But the Non Farm Payroll report comes out today. That usually moves things. Traders will pick through the numbers to guess what the Fed does with rates. Strong numbers could spook markets. Weak ones might calm them down. Either way, expect some choppiness. Nobody’s standing still until that report lands.
What you'll learn 👉
News Driving the Bitcoin Price Today
The Bitcoin price remains tied to macroeconomic sentiment more than crypto-specific developments. Stagflation concerns have returned after the latest U.S. manufacturing data pointed to slowing growth alongside elevated input costs, pushing investors toward defensive positioning.
Institutional demand has also become less consistent. U.S. spot Bitcoin ETFs recorded a $61.53 million net outflow, ending a three-week buying streak, and market maker Wintermute noted that part of the recent ETF activity appears linked to arbitrage strategies instead of fresh directional buying.
Bitcoin is also facing a few crypto-specific challenges. Reports surrounding a Coldcard firmware exploit that may have exposed up to $100 million worth of Bitcoin have unsettled some self-custody users, even though investigations continue. BitMEX also confirmed it will delist its Bitcoin futures contracts ahead of its September shutdown, removing another legacy derivatives venue from the market.
There are positive developments as well. Tether announced it will launch its Hadron tokenization platform in Saudi Arabia, beginning with institutional real estate assets under the country’s Vision 2030 initiative. The expansion strengthens the broader blockchain adoption narrative, even if its immediate impact on the Bitcoin price is limited.
Meanwhile, regulatory uncertainty remains. The CLARITY Act continues facing delays in the U.S. Senate ahead of the August recess, leaving digital asset markets without the regulatory catalyst many investors had expected.
Here’s What the Bitcoin Chart Is Showing
Let’s look at the Bitcoin chart. Not much has changed since we last checked in. The BTC price is still stuck in that same box it’s been trading in.
The good news? It’s holding above $64,000. That’s the line in the sand right now. After falling to $62,500 last week, buyers stepped in and said, “Nope, not going lower.” They’ve done that a few times now, which tells you there are still people willing to buy this dip, even if everyone feels a bit nervous.
So, where’s the ceiling? Up around $66,800 to $67,000. That was the spot where the BTC price got pushed back down in July, so you can bet sellers are waiting there again.
The numbers we watch for momentum are giving us a mixed picture. One gauge shows buyers getting a little stronger, but they’re not running wild yet. Another metric says buying pressure is just okay, nothing too aggressive, nothing too weak. Just sort of… there.
Here’s the bottom line: Keep your eyes on $64,000. As long as we stay above that, the door is still open for Bitcoin to push up and test that higher resistance level.
But if $63,000 gives way? Then things get shaky. We’d likely drop back to that $62,500 area again. And if the jobs report comes out bad and selling picks up steam, we could be looking at $58,000, the low we hit back in July.
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Here’s Where the Bitcoin Price Could Go Today (August 7)
Everything hinges on one number: the jobs report. If that number comes in lower than everyone expects, the Fed might finally ease up on rates. Pair that with money flowing back into ETFs, and Bitcoin has a real shot at pushing past $65,500. From there, the real test is $66,800 to $67,000. That’s the wall. Price has hit it and bounced off more times than we can count over the last few weeks.
But if we’re being honest, the most likely outcome is more of the same. The Bitcoin price probably just wobbles between $64,000 and $65,500 for a while. The economic data is all over the place, nobody knows what’s happening with the CLARITY Act, and big money isn’t piling in or pulling out in any clear way. So we wait for something that actually forces a move.
Now, the bad case. If the jobs report comes in hot, meaning rates stay high, or if ETFs keep bleeding money, things get ugly. Losing $64,000 is the first warning sign. $63,000 is next. Break that, and we’re looking at $62,500. If selling really picks up steam below those levels, don’t be surprised if we’re testing those late-June lows again before anyone steps back in to buy.
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