[Bitcoin analysts forecast a potential move to test lower price levels as the asset remains stuck in a tight range.][Over $200 million in daily cryptocurrency liquidations continues despite the period of limited price volatility.][Institutional sentiment hits “extreme bearish levels” as crypto funds record a fourth consecutive week of net outflows.]
Bitcoin Price action remained tightly rangebound on Thursday, fueling over $210 million in daily crypto liquidations and triggering fresh predictions of a downward move. Market participants pointed to a lack of a strong bounce from current levels, with BTC/USD hovering around $65,620 according to data from TradingView.
Analyst Michaël van de Poppe commented that the chart suggests Bitcoin will “test lower” to find support. Consequently, the persistent lower highs indicate significant selling pressure remains unresolved.
However, the high liquidation figures contrast sharply with the asset’s constrained trading behavior. Pseudonymous analyst CryptoReviewing noted that while liquidity sits below $66,000, a zone between $68,000 and $71,000 holds roughly three times more potential liquidations.
Meanwhile, institutional sentiment continues to deteriorate, reaching what The Kobeissi Letter described as “extreme bearish levels.” Data shows crypto funds suffered a fourth straight week of net outflows, totaling $173 million last week and bringing the four-week cumulative to nearly $3.74 billion.
This bearish trend is reflected in US spot Bitcoin ETFs, which have faced sustained pressure. The Kobeissi Letter reported that Bitcoin led the institutional sell-off with $133 million in outflows last week alone.
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