Bitcoin's price holding steady around $64,000 to $65,000 is seen differently by insiders than by average investors. While some retail traders might feel uneasy recalling the same price range stalled in 2021, expert Gabor Gurbacs, an advisor to Tether, argues the current bitcoin value is actually deeply undervalued when looking beneath the surface.

Gurbacs points out that although the nominal price level looks familiar, the market’s underlying structure has drastically changed compared to the 2021 peak. Back then, bitcoin's all-time high was largely fueled by hype, unclear regulation, and heavy speculative use. In contrast, the mid-2026 landscape features well-established spot ETFs, institutional access channels, and clearer government rules which reduce risk and improve market stability.

Because of this shift, Gurbacs believes that once the speculative leveraged players exit, genuine price discovery will begin, potentially driving bitcoin’s value higher. Supporting his take, data from SoSoValue shows substantial institutional purchasing during this consolidation phase.

Institutional Accumulation and ETF Inflows

Spot Bitcoin ETFs have seen consistent inflows, highlighting steady demand from large investors. on July 20, these ETFs recorded net purchases worth $226.92 million at a price near $65,142. Over the previous week, institutions maintained daily positive inflows in the range of $79 million to $181 million, offsetting all outflows from June.

Total assets managed in bitcoin ETFs have now neared $79.16 billion, marking a significant capital base supporting the market price. This suggests that major players are methodically accumulating bitcoin even as the price trades sideways.

Technical Support Levels and Market Indicators

Following a spring correction from a peak close to $126,000, bitcoin established a solid bottom zone between $55,700 and $58,200. Since then, it has held around $64,210, supported by various technical indicators. This price stability amid growing institutional interest signals confidence in bitcoin’s longer-term prospects.

Gurbacs’ view contrasts with the many retail investors who see the current price as stuck or vulnerable. Instead, this perspective frames the $65,000 range as a bargain given the improved ecosystem and market maturity since the last cycle’s top.

This material is for informational purposes only and does not constitute financial advice.