Bitcoin Stuck in Range as Institutional Demand Remains Soft

Bitcoin is stuck in a tight range between $62,000 and $68,000 as institutional demand remains soft. Analysts say the token needs to reclaim $67,000 for a short-term rebound to gain strength.

The US monetary policy uncertainty and Middle East risks are weighing on sentiment, with long-term yields rising sharply. The 30-year Treasury yield climbed above 5.2% intraday, its highest since 2007, which is typically seen as a drag on risk assets like stocks and cryptocurrencies.

Despite the price correction, long-term holders have continued to hold onto their Bitcoin, with about 40% of the record 15 million BTC currently held at an unrealized loss. This signals that long-term conviction remains intact, according to Fidelity Digital Assets.