Bitcoin Consolidates at $64,673, $80K August Target Emerges as Rally Cools

Par La Rédaction
Publié le 15 July 2026

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Bitcoin Consolidates at $64,673: $80K Target for August Emerges, but Rally Cools

Bitcoin crossed the $64,000 threshold during the July 14 session, propelled by the release of a US consumer price index at its lowest since 2020. Since this breakout, the largest cryptocurrency by market capitalization has been trading in a consolidation range around $64,673, a sign that the market is digesting the latest macroeconomic developments before determining the next direction. While the initial rally was impressive — with BTC surging 4.23% in 24 hours at the time of the data release — momentum has since calmed, giving way to a range-bound phase that leaves investors questioning the next step.

At the time of writing, Bitcoin is trading around $65,368, extending its gains slightly thanks to inflows into US spot ETFs and a macroeconomic backdrop that has suddenly turned more favorable. But the current consolidation tells a more nuanced story: one of a market that, after receiving the long-awaited inflation signal, is seeking to confirm the solidity of its new base before attempting another leg higher. Several analysts believe the real test now lies above $65,000, a level that, if breached with sufficient volume, would open the path toward $70,000 in the medium term.

CoinTelegraph Sets an $80,000 Target for August

Against this backdrop, CoinTelegraph published an analysis setting a price target of $80,000 for the month of August, a projection that quickly captured the attention of traders and analysts. This target, while perhaps ambitious given the ongoing consolidation, rests on several converging factors. The first is the radical shift in monetary narrative: the Fed, which was still considering a rate hike just weeks ago, now must contend with inflation in freefall that could force it to adopt a more accommodative tone as early as the next FOMC meeting.

Second, inflows into spot Bitcoin ETFs have reached remarkable levels, with daily net inflows in the hundreds of millions of dollars. The SEC’s approval of spot ETFs in January opened the door to massive institutional demand, and recent data show that this dynamic is not only holding but accelerating. BlackRock, Fidelity, and Bitwise are recording record inflow volumes, a sign that traditional investors increasingly view Bitcoin as a full-fledged asset class rather than a mere speculative instrument.

Third, Bitcoin’s technical structure shows medium-term bullish signals. The Power Law support line, a mathematical model that has historically captured Bitcoin’s cycle bottoms well, indicates that the current price lies in the lower portion of the expected valuation range for this period. Combined with an RSI that is not yet in overbought territory on the weekly timeframe, this technical support suggests that the current consolidation is healthy and could precede a new bullish impulse.

Rally Cools: Caution Signals Emerge

However, not all indicators are flashing green. While the $80,000 target for August is appealing, the short-term market reality is more nuanced. Bitcoin is showing signs of exhaustion after its 4.23% rally, and trading volume has declined over recent sessions. This “rally cooling” phenomenon is typical of markets that have just broken through a key technical level: short-term profit-takers sell, while long-term investors wait for confirmation before adding to their positions.

CoinDesk notably noted that “Bitcoin’s rally cools as investors digest inflation data and oil outlooks darken the horizon.” Crude oil prices remain a major uncertainty variable: a rise in energy costs could reignite inflation fears and reduce the Fed’s room for maneuver. The geopolitical situation in the Middle East, with recent tensions around the Strait of Hormuz and Washington’s freezing of Iranian assets, adds a layer of complexity that financial markets are closely monitoring.

The massive options expiry on July 18 is another potential volatility factor. With nearly $1.4 billion in Bitcoin options set to expire, market makers may be forced to hedge their positions, creating unpredictable short-term price moves. Savvy traders remain cautious, waiting to see how the market absorbs this expiry before taking aggressive directional positions.

Bitcoin ETFs Drive Flows, but Price Action Hesitates

An interesting paradox is currently emerging in the market: while ETF flows are clearly positive and institutional inflow is palpable, Bitcoin’s price action remains hesitant. This disconnect between paper demand (ETFs) and the spot price is not new, but it takes on particular significance in the current context. One possible explanation is that ETF buyers are predominantly long-term investors who are not looking to trade immediate momentum, while the spot market is dominated by more tactical traders who have already priced in the good CPI news.