Bitcoin, the leading cryptocurrency, saw a minor increase of 0.2%, with its price at $64,331 as of midday IST. This resilience comes despite the broader economic signals suggesting a slowdown, with the US GDP growing at its slowest pace in nearly two years. The market capitalization for Bitcoin rose to $1.268 trillion, maintaining its dominance at 53.45% of the total market cap.

The trading volume of Bitcoin also saw an increase, rising 3.8% to $32 billion. Analysts point to immediate resistance levels around the $66,200 mark and support at $63,700, suggesting a potential range for short-term price movements.Over the recent trading sessions, Bitcoin has been fluctuating within a relatively narrow band, demonstrating a struggle to define a clear direction.

The price oscillation above the 9-period Exponential Moving Average (EMA) suggests a minor bullish inclination; however, this is tempered by the resistance near the $64,500 level. The Relative Strength Index (RSI), hovering just above the midpoint at approximately 55, indicates a market that is neither oversold nor overbought.

With the immediate resistance level at $66,200 and support at $63,700, BTC is at a crossroads. A break above the resistance could indicate an upcoming bullish phase, while a drop below the support might signal a bearish trend.
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