Bitcoin Falters Near $63,000 Amid Weakening Market Structure

Bitcoin struggled to rise above $63,000 on Friday despite strong inflows into spot Bitcoin ETFs earlier in the week. The cryptocurrency's market structure is weakening, with potential for a drop to $58,000 if key support breaks.

Over the past 24 hours, more than 94,000 traders were liquidated, losing over $359 million. This significant loss highlights the volatility of the current market and raises concerns about Bitcoin's short-term prospects.

Historical trends suggest possible further declines after Federal Reserve meetings, but some experts advise patience and accumulation during this volatility.