Bitcoin Trapped in Range as Institutional Investors Rebuild Positions
Bitcoin has been stuck in a tight range near $64,000 despite improving financial markets and investor optimism. The cryptocurrency's price has not broken above the psychologically important $70,000 level, and market participation remains subdued.
Institutional investors have begun to rebuild their positions, with daily inflows into U.S. spot Bitcoin ETFs exceeding $200 million recently. However, this improvement in fund flows may be too little, too late, as a decisive trend reversal has yet to materialize.
According to historical patterns, the first meaningful phase of a new recovery could begin around November or December this year. Until then, another capitulation phase cannot be ruled out, potentially driving Bitcoin prices toward the $45,000 area.