Bitcoin faces heightened bearish sentiment as its price remains trapped in a tight range, fueling significant daily crypto liquidations exceeding $200 million. Analysts point to a lack of a strong price recovery as institutional funds record a fourth consecutive week of net outflows, underscoring a pessimistic market mood.
Bitcoin’s price behavior triggered fresh downside predictions from analysts on Thursday. The cryptocurrency failed to produce a strong bounce while trading within a narrow range, with its lows touching approximately $65,620.
Crypto trader Michaël van de Poppe commented on the market’s direction in a post, stating, “This looks to me as if we’re going to test lower on the markets to see whether there’s some support on Bitcoin.” He noted the pattern of constant lower highs on shorter timeframes. Despite limited volatility, significant liquidations persisted across the crypto market.
Data from analytics platforms showed 24-hour cross-crypto liquidations totaled roughly $210 million. One analyst reviewing liquidation maps pointed to a higher probability zone for price movement between $68,000 and $71,000, where substantial liquidations are built up.
The institutional landscape reflected deepening caution. Mainstream commentator The Kobeissi Letter highlighted that crypto funds experienced a fourth straight week of net outflows, losing $173 million last week alone. Cumulative outflows over four weeks reached approximately $3.74 billion.
Bitcoin led the institutional selling with $133 million in outflows last week, while Ethereum saw $85 million withdrawn. The trend indicates funds have faced withdrawals in 11 of the last 16 weeks, which was described as sentiment reaching extreme bearish levels.
