Bitcoin (BTC) is currently trading at $96,985.60, showing a slight 0.48% decline over the past 24 hours and a 3.37% drop over the past week. The asset has been trading within a 24-hour range of $96,673.21 to $98,492.90, struggling to gain momentum as market sentiment remains cautious.

(BTC price / Trading View)

Bitcoin’s 24-hour trading volume fell 17.68% to $31.63 billion, indicating reduced market activity. This decline suggests that traders are holding back from taking significant positions as BTC struggles to break above resistance. Meanwhile, bitcoin’s market capitalization slipped 0.83% to $1.92 trillion, reflecting the broader pullback in the crypto market.

Despite recent volatility, BTC dominance rebounded 3.6% over the past 24 hours after dipping slightly earlier in the day, signaling a continued preference for the dominant cryptocurrency as more investors consolidate into bitcoin. However, bitcoin futures open interest fell 0.41% to $59.80 billion, suggesting that traders are reducing their leveraged exposure amid uncertainty.

Total bitcoin liquidations over the past 24 hours amounted to $19.68 million, with $10.50 million in long liquidations and $9.18 million in shorts. This relatively balanced liquidation data suggests a lack of strong directional conviction, as both bulls and bears remain hesitant.

Bitcoin continues to struggle for upside momentum, with declining trading volume and futures open interest pointing to a cautious market. The $97,500 level remains a key resistance zone, and a breakout above $98,500 could signal renewed bullish strength. However, if BTC fails to hold above $96,500, further downside toward the $95,000 support level could be on the horizon. Traders will be watching macroeconomic trends and liquidity flows closely as bitcoin navigates this consolidation phase.

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