Bitcoin Gains Slightly, Remains in Tight Range Amid Trader Caution
- Bitcoin (BTC) rose by 1.25% to $77,250 after finding support at $75,000.
- The CoinDesk 20 Index (CD20) increased by 0.7%, with most altcoins showing mixed performance.
- Open interest in bitcoin futures remains steady at $19 billion, indicating low speculative activity.
- Liquidations totaled $149 million in the last day, primarily affecting BTC ($50 million) and ETH ($29 million).
- The CoinDesk Memecoin Index (CDMEME) led gains with a rise of 1.8%.
Despite a slight uptick in Bitcoin’s price, traders remain cautious as negative funding rates suggest a prevailing bearish sentiment in the market. The altcoin landscape is varied, with some tokens like Monad (MON) gaining while others struggle.
As of now, Bitcoin is trapped between $75,000 and $80,000 since April, reflecting ongoing market uncertainty amid significant liquidations totaling $149 million.(Source)
