Bitcoin Holds at $64K as Analysts See Market in Range-Bound Phase
Bitcoin is trading near $64,700, down about 13% over the past month and roughly 50% below its October record of $126,080. Analysts describe a market stuck in a range, with selling pressure nearly exhausted but buyers not returning. The cryptocurrency showed resilience to hawkish Fed Chair Kevin Warsh's debut, dropping only 1.6% versus the S&P 500's 1.2%, but gains are not trending. Key catalysts include a looming U.S. Clarity Act vote targeted for July 4, potential cooling of inflation following the Iran peace deal, and a $10.9 billion Bitcoin options expiry on Friday. ETF flows have turned negative, with $3.2 billion in outflows in 2026 after $20 billion inflows in 2025. Liquidation clusters show $1.3 billion in long liquidations near $61,900 and $870 million in shorts near $64,800. Some holders are borrowing against their coins instead of selling, with Bitcoin being the top swap destination on Chainflip with $239 million in 90-day volume. Prediction markets put a 70% chance of Bitcoin dropping to $55,000.
Key facts
- Bitcoin at $64,700, down 13% monthly and 50% below October record.
- Analysts say selling pressure exhausted but buyers absent, market range-bound.
- Key catalysts: Clarity Act vote July 4, Iran deal inflation, $10.9B options expiry.
- ETF outflows total $3.2B in 2026 after $20B inflows in 2025.
- Prediction market sees 70% chance Bitcoin falls to $55,000.