Bitcoin under increasing selling pressure

By Mostafa Mahmoud On Aug 11, 2026

BTCUSD

Bitcoin trades below the $66,800 resistance level, and prices are likely to move sideways between the $62,500 support level and the aforementioned resistance level.

Support	62500	58800
Resistance	66800	70000

Bitcoin fell by around 1.7% to nearly $64,000 as risk appetite weakened amid fading hopes for a U.S.-Iran agreement to reopen the Strait of Hormuz. The cryptocurrency also faced additional pressure after Strategy announced the sale of 1,690 Bitcoin worth $109 million, while raising approximately $653 million through the sale of common stock, adding to caution across the cryptocurrency market.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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