Bitcoin Stuck at $64,000 as Traders Get Liquidated

Bitcoin continued its sideways movement on Tuesday, trading around $64,000. Despite this low-volatility trend, notable statistics show that 61,746 traders were liquidated in the past 24 hours for a total of $164.57 million, according to Coinglass data.

On Monday, SoSoValue reported net inflows of $170.09 million from spot Bitcoin ETFs, but this was contrasted with net outflows of $11.4 million from spot Ethereum ETFs.

Crypto chart analyst Ali Martinez noted that Bitcoin is testing the upper boundary of a descending channel, with $64,300 as the key breakout level. A four-hour close above this could confirm bullish momentum and pave the way for a move towards $65,500, $66,500.