Crypto: Bitcoin Price Forecast Sees New Breakdown As Crypto Liquidates Over...

Bitcoin fed into "extreme bearish sentiment" as a tight BTC price range fueled daily crypto liquidations of over $200 million.

Bitcoin (BTC) fielded fresh downside predictions Thursday as BTC price action kept long liquidations high.

Bitcoin price analysis sees lower levels coming amid a lack of a “strong bounce.”

High liquidations contrast with the tightly rangebound BTC price behavior.

Crypto funds seal a fourth week of net outflows amid “extreme” bearish sentiment.

Data from TradingView showed BTC/USD acting within an increasingly narrow range, with the day’s lows at $65,620.

A modest improvement in US jobless claims prior to the Wall Street open had little impact on the mood, and market participants expected lower levels to come into focus next.

“This looks to me as if we're going to test lower on the markets to see whether there's some support on Bitcoin,” crypto trader, analyst and entrepreneur Michaël van de Poppe commented about the four-hour chart in a post on X.

CryptoReviewing, the pseudonymous cofounder of trading community Wealth Capital, drew attention to ongoing large liquidation numbers despite the relative lack of BTC price volatility.

“Now, below us at $64,000 - $66,000 we still have a sizable amount of liquidity,” he told X followers alongside data from CoinGlass.

Source: CoinTelegraph