Bitcoin Stuck in $63,000 Range as Demand Gap Persists
Despite softer US inflation and lower oil prices, Bitcoin remains stuck in the $63,000 range. The token's spot trading volume has fallen to its lowest level since 2019, while a gap in demand persists. According to analysts, this setup raises the risk of greater volatility.
The 200-week moving average and the $63,000 support zone are key indicators for Bitcoin's long-term prospects. Analysts say that if Bitcoin can reclaim the $67,000 resistance level, it may signal a growing possibility of forming a long-term bottom.
On-chain data suggests investors who bought near the highs have been cutting losses, while accumulation by large holders has continued. However, retail fatigue is becoming more evident, with phrases such as 'crypto is over' appearing more often on social media platforms.