Bitcoin Trapped in Tight Price Range

Bitcoin is currently stuck in a tight range between $64,600 and $65,900, with traders watching closely for the next move. The price has been fluctuating within this range, reaching a high of $65,893 and a low of $64,595 in the past hour.

The daily volume on spot markets is at $1.62 billion, while futures volume is much larger at $25.25 billion. Open interest, which tracks the total value of active futures contracts, is at $48.49 billion, up 1.29% over the past day.

This range often comes right before a bigger move, but it's unclear which direction Bitcoin will break out. Some traders are leaning slightly bullish, with Binance's top trader ratio showing more long positions than short ones.