Bitcoin Holds Steady at $85,000 Amid Mixed Market Sentiment
Bitcoin remains steady around the $85,000 mark, maintaining a tight trading range. Data from Coinglass shows that 60,133 traders faced liquidations in the past 24 hours, totaling $147.51 million in losses. Meanwhile, SoSoValue reports significant outflows from spot Bitcoin ETFs, with $89.9 million leaving on Monday, and $50.8 million exiting spot Ethereum ETFs.
Among the top gainers in the past 24 hours were Render, LayerZero, and OKB. Notable developments include Ripple, Circle, and Standard Chartered backing crypto exchange OKX at a $25 billion valuation. Analysts are divided on Bitcoin's future, with some predicting it could reach $100,000 soon, while others remain cautious.
Heavily followed cryptocurrency analyst Kevin maintains a bullish stance on Bitcoin, provided it holds above key support levels of $83,000 to $77,000 and $75,000 to $67,000. Scott Melker highlighted regulatory developments, noting the withdrawal of proposed rules affecting crypto mixers and self-hosted wallets. Bitcoin-focused policy advocate Dennis Porter plans to expand state-level legislation protecting Bitcoin rights and increasing education efforts among Democratic lawmakers.