Stable Bitcoin Price Hides Liquidation Fears Ahead of Inflation Data

The Bitcoin price remains relatively stable near $63,000 as investors wait for key inflation data. Despite this stability, traders are cautious and liquidations have occurred. According to Coinglass, 78,008 traders were liquidated in the past 24 hours for a total of $171.82 million.

Meanwhile, spot Bitcoin ETFs saw net outflows of $144.7 million on Monday, according to SoSoValue data. This is after a five-day streak of inflows. Spot Ethereum ETFs also experienced net outflows of $14.6 million during the same period.

Not all assets are experiencing losses, however. Dogecoin has seen an increase in value, but some analysts believe it won't lead to a 'extreme bear' phase for Bitcoin this cycle. Roman Trading suggests accumulating Bitcoin at current levels to spread risk, arguing that buyers could be rewarded even if the bottom is not yet in place.