Bitcoin Trades Near $65k Amid Reduced On-Chain Activity
Bitcoin has been trading in a tight range around $64,500 as investors remain cautious following the Federal Reserve's hawkish hold and ongoing US-Iran tensions. These factors have kept risk sentiment in check, weighing on market appetite.
A key BTC on-chain metric has fallen 62% over the past nine months, signaling reduced on-chain activity and weaker momentum for crypto markets, DeFi, and DEX participation.