Bitcoin Price Struggles Below $65,000, Analysts Warn of Prolonged Stagnation

Bitcoin's price has been struggling to climb above $65,000, sparking concerns about its demand. Market analysts are warning that if Bitcoin fails to break past this level, it could indicate a prolonged period of low participation and stagnation in the market.

CryptoQuant analyst Moreno has noted that the 30-day combined growth of spot and perpetual futures demand has fallen to around -650,000 BTC, a reading that has appeared only three times since 2019. This suggests that both regular buying and derivatives exposure are falling at the same time, indicating fewer buyers available to absorb selling pressure.

Moreno believes the current setup looks like the start of a final cleansing phase rather than a confirmed turning point. He expects a period of heightened volatility before the market settles into a prolonged stretch of sideways trading with low participation.