Weak Liquidity Weighs on Bitcoin as Price Hovered Near $64,350

Bitcoin is trading near $64,350 on Wednesday, despite weak liquidity and subdued on-chain activity that signal caution.

Capital flows are showing signs of stabilizing, but on-chain indicators continue to suggest a cautious market. Bitcoin's spot liquidity remains weak and on-chain activity is subdued, even as capital flows show signs of stabilising.

Vikram Subburaj, CEO of Giottus, noted that immediate support is around $64,000, followed by the more important $63,000 zone. He emphasized that Bitcoin's spot volume has recently fallen to its lowest level since 2019, while $63,000 represents the Median Realised Price.

Riya Sehgal, Research Analyst at Delta Exchange, said short covering supported the rebound, while improving spot ETF flows added institutional demand. However, the broader market has not shown enough strength for a clear risk-on breakout.