According to CoinMeta, on August 1st, the price of Bitcoin approached $63,000, and there was a capital outflow of $265 million, which led buyers to adopt a wait-and-see attitude. At the time of writing, Bitcoin was trading at around $63,082, and it had briefly fallen below $63,000 recently. This asset has erased most of the rebound since reaching a high of nearly $66,900 on July 21st. The daily chart shows that Bitcoin is directly below the 78.6% Fibonacci retracement level of $63,150; if the daily close falls below this level, it will confirm that buyers have not been able to defend this retracement level. Bitcoin may retest the $62,000 region, and if selling pressure intensifies, the psychological support level of $60,000 could also be challenged. Stabilization in the current range would create room for further consolidation, but Bitcoin must rise above $64,000 to alleviate the current pressure.