Bitcoin is trading near $62,048, down modestly over the past 24 hours after a choppy overnight session. The token remains capped below its 50-day and 200-day moving averages, keeping the medium-term trend cautious. Market cap sits around $1.24 trillion, with 24-hour volume near $21.3 billion. Support holds at $60,500, while resistance stands at $64,300, the level bulls need to reclaim.
Speaking on the market, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is trading above the $64,000 level, showing resilience despite Strategy’s sale of 3,588 BTC.” He added that the announcement briefly pushed Bitcoin toward $61,000 before buyers stepped back in. The volatility triggered nearly $500 million in liquidations within 24 hours.
He further noted that falling US Treasury yields and a weaker dollar are improving the appeal of risk assets like Bitcoin. On-chain data also points to easing selling pressure, with long-term holder transfers to exchanges falling from 8,040 BTC to 4,130 BTC per day this week.
According to the CoinSwitch Markets Desk, BTC rebounded to $64,000 from a low near $61,300, with the market shrugging off Strategy’s sale fairly quickly. The desk pointed to a 9% funding rate as a sign of balanced positioning rather than overheated leverage. It also flagged $265 million in ETF inflows in over two days as a shift after weeks of outflows, with support firming near $60,000.
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Riya Sehgal, Research Analyst at Delta Exchange, said, “Crypto markets are in a range recovery after Bitcoin’s drop toward the low-$61,000 area.” She noted the move followed Strategy’s disclosure of its sale, showing treasury flows can still shake spot sentiment. A four-hour close above $64,000 to $64,300 would strengthen the setup, she said, while a break below $62,000 could bring $61,000 back into focus.
Meanwhile, Nischal Shetty, founder of WazirX, said near $64,300, up 1.3%, with buying interest returning after recent volatility. He pointed to Bitcoin’s realized profit-to-loss ratio falling to a 43-month low, a level historically tied to market stabilization. Ethereum, he added, is supported by almost $153 billion in stablecoin supply sitting on its network.