Bitcoin Stuck in $63,000 Range as Volatility Lingers

Bitcoin continues to trade within its $63,000 price range despite softer US inflation and lower oil prices.

Analysts caution that a cautious approach is warranted until Bitcoin breaks through resistance at $67,000.

A gap in spot demand and a buildup in leveraged positions raise the risk of greater volatility, but measures of seller exhaustion are approaching levels seen near past bear-market bottoms.

Long-term momentum indicators are improving, and price holding near historically important support levels also matters for market psychology, according to Katie Stockton, founder of Fairlead Strategies.