Bitcoin Price Retreats as Weak Demand Holds Back Momentum
Bitcoin's price retreated to around $64,300 after failing to maintain momentum above $65,000.
The resistance at $65,400 proved too strong for the cryptocurrency, which has been trading in a relatively narrow range.
Low spot market volume and weak demand are contributing factors to the volatility risks that have increased due to the dominance of futures markets.
Institutional investors have also shown softer demand, with U.S. Bitcoin ETFs reporting recent net outflows.