Rongchai Wang
Jun 26, 2025 05:49
Bitcoin stays range-bound between $100k and $110k, with fading spot quantity and cautious futures sentiment suggesting restricted upside with out elevated demand.
Bitcoin (BTC) has continued to commerce inside a slender vary of $100,000 to $110,000, based on Glassnode Insights. This follows a quick dip to $99,000, attributed to heightened geopolitical tensions, earlier than rebounding to $106,000 as tensions eased. Regardless of this restoration, the cryptocurrency stays beneath stress because of cooling exercise metrics and a scarcity of serious demand.
Market Consolidation and Assist
The cryptocurrency has been consolidating inside this vary since early Might, with robust structural assist recognized between $93,000 and $100,000. This zone, highlighted within the CBD Heatmap, represents a major accumulation space from the primary quarter of 2025. So long as Bitcoin holds above this vary, the bull market construction stays intact, although a breakdown might result in a deeper correction if holders start to promote.
Cooling Profitability and Exercise
Revenue-taking has slowed, with realized income truly fizzling out after a 3rd main wave on this cycle. On-chain switch quantity has decreased by roughly 32%, whereas spot buying and selling quantity stays low at $7.7 billion, indicating decreased investor engagement. This cooling is typical in consolidation phases the place market volatility declines and investor exercise diminishes.
Futures Market Dynamics
Regardless of excessive buying and selling volumes, the futures market is exhibiting indicators of warning. Open curiosity has dropped by 7%, and liquidations have surged, reflecting a scarcity of conviction amongst merchants. Falling funding charges and a declining 3-month foundation recommend a decreased urge for food for lengthy positions, pointing to a extra conservative speculative surroundings.
Outlook and Dangers
Whereas the present market construction stays supportive, a breakout to new highs will probably require a resurgence in demand and investor conviction. With out these, the market is anticipated to stay in its present holding sample. The sustained but cautious participation within the futures market additional underscores this sentiment.
For extra detailed evaluation, go to the unique supply on Glassnode Insights.
Picture supply: Shutterstock
