Bitcoin Stabilizes Around $68K as Liquidity Takes Center Stage

Bitcoin's price action has been influenced by various factors, including geopolitics, tariffs, and liquidity. According to analyst Ted, markets are primarily driven by liquidity rather than headlines. This means that the flow of money into or out of the market can have a significant impact on asset prices.

The $65,000-$66,000 range is seen as a critical demand base for Bitcoin, with sustained support above this level indicating a consolidation of buyers. Technical analyst Cryptorphic notes that there is no structural change on the weekly chart, with price action consolidating at support and buyers defending it.

Derivative data shows heightened activity, with liquidations totaling $19.79 million in the past 24 hours. This includes both long and short liquidations, indicating a mix of selling pressure and bearish bets being taken out of the market. The weekly candle close will be crucial in determining whether Bitcoin is bottoming out or gearing up for another move.