Bitfinex Says Bitcoin Remains Stuck in $62,500-$72,000 Range
JH Kim
Summary
- Bitfinex said Bitcoin (BTC) is moving within a $62,500 to $72,000 range and is showing no clear direction.
- Bitfinex said broader spot Bitcoin ETF inflows and stabilization in the derivatives market have yet to materialize, and that the market lacks the key catalyst needed to drive a trend reversal.
- Bitfinex added that key support levels remain intact, but upside momentum remains limited, and the market remains in a wait-and-see phase despite changes in the macroeconomic environment.
Forecast Trend Report by Period
Bitcoin has been trading in a $62,500 to $72,000 range without showing a clear direction, Bitfinex said in an analysis.
Walter Bloomberg reported on June 22 that Bitfinex, in a report, said neither buyers nor sellers currently hold a decisive edge. Bitcoin was recently trading at $64,871, up 1.7%, but lacks a key catalyst to drive a trend reversal.
Bitfinex said stronger inflows into spot Bitcoin ETFs and stabilization in the derivatives market have yet to materialize.
It added that key support levels remain intact, but upside momentum remains limited. The market is also staying in a wait-and-see phase despite changes in the macroeconomic environment.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
