A recent post on social media platform X by crypto analyst KillaXBT has sparked attention among investors and traders in the cryptocurrency market. According to KillaXBT, the current market structure suggests that Bitcoin's price may be heading towards $63,000 in the near-term.
The analysis is based on the past few weeks' liquidity dynamics, which have driven the flagship cryptocurrency's price. The trader pointed out that investors have seen multiple sweeps across external highs and internal lows, leading to a bearish weekly close.
KillaXBT also highlighted another noteworthy event: the current week swept some liquidity, resulting in another downward rejection of the BTC price. With available buy pressure being exhausted, the $64,900 lows seem exposed for another liquidity sweep.