Bitcoin Falls; Trading Range-Bound Amid Low Market Liquidity

Dow Jones11:44

0344 GMT - Bitcoin falls in Asian trading. The cryptocurrency remains range-bound, with prices occasionally dipping below $63,000 before quickly recovering, analysts at crypto trading platform Bitfinex say. Without a clear catalyst driving valuations, the market is likely to remain illiquid on weak spot trading volumes, keeping prices within the $62,000-$65,000 range. Meanwhile, Strategy, Bitcoin's largest corporate holder over the past two years, disclosed a sale of the risk asset this week, signaling it has turned into a net seller. While macroeconomic pressures and Bitcoin's underperformance versus the Nasdaq and S&P 500 point to underlying market weakness, a decisive break below the current range would likely require a more forceful trigger, Bitfinex says. Bitcoin is down 0.5% at $64,457.45.

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