Bitcoin Price Trapped Between Liquidation Walls

Bitcoin's price is stuck in a tight range between $64,600 and $65,900, causing traders to watch closely for the next move. The current price of around $65,050 has seen a modest 0.45% increase on the day.

The liquidation map explains why Bitcoin is trading sideways. Long liquidations are clustered near $64,600, while short liquidations are stacked up near $65,900. This range is causing uncertainty in the market, with some traders waiting for a breakout.

Despite the uncertainty, sentiment remains slightly bullish, with major exchanges showing a lean towards long positions. However, this could set up a sharp move lower if longs get squeezed.