BTC's Stalled Rally: Low Volume Trading Puts Market on Hold

BTC has completed its V-shaped rebound from $61,824 to $65,044 this week, but the price has stalled at around $64,000. The market is now in a wait-and-see phase, with low volume trading characterizing the current trend.

Funding rates have turned positive again, indicating that leveraged capital is returning, although overall it remains neutral and not overheated. This suggests that investors are taking a cautious approach to BTC.

Ethereum (ETH) has outperformed BTC this week, with risk appetite recovering compared to earlier times. However, altcoins as a whole remain weak, indicating that capital is still rotating among major assets.

A large number of liquidation orders are clustered above $65,000 and around $57,000-$58,000, which the current price sits between. A key range needs to be broken for volatility to increase and trigger a chain reaction.