Bitcoin Stuck Near $64,000 Amid Weak Market Liquidity

Bitcoin's price remained steady around $63,000 on Friday despite softer US inflation data. The cryptocurrency was trading at $62,847, down 1.31% in the past 24 hours.

Prateek Gupta, Head of Business at Mudrex, attributed the muted response to weaker market liquidity and institutional demand. He noted that daily spot Bitcoin volume fell to $1.19 billion, its lowest since 2019, versus a peak of $14.7 billion in February.

Riya Sehgal, Research Analyst at Delta Exchange, pointed out that despite a more supportive macro backdrop, crypto markets remain cautious. She added that ETF flows are reinforcing this divergence, with US spot Bitcoin ETFs recording net outflows of over $125 million on August 13.