Bitcoin’s next major move may be higher, but liquidity has yet to return: Bitfinex analysts

Bitcoin has held above its $63,200 median realized price as Bitfinex analysts identified $67,176 as the breakout level that could raise the chances of an upside volatility expansion. Summary Bitcoin’s $63,200 median realized price has provided support during the past two weeks. A move above $67,176 would return recent buyers to profit and test overhead resistance. US spot Bitcoin ETFs recorded $385.2 million in weekly net outflows. Stablecoin supply has fallen 4.5% from its May peak to $300.7 billion. Bitfinex analysts said thin participation could amplify relatively small buying or selling flows. Bitfinex analysts told crypto.news that Bitcoin’s prolonged defense of its median realized price has increased the probability that its next large move could favor buyers, although weak ETF demand and falling stablecoin supply have left the potential rally without fresh liquidity. Bitcoin’s $63,200 support has held through repeated tests Bitcoin (BTC) was trading near $64,500 at the time of writing after spending almost three months in a contracting range, according to Bitfinex analysts. The analysts identified $63,200 as the median realized price, an on-chain cost-basis level that has se...