Bitcoin (BTC) is gaining buyers’ interest after setting a new yearly low at $59,000 last week. Order book data and liquidity suggest a rally is pending and more than $2 billion in short liquidity is concentrated near $65,000. BTC’s bid-ask ratio has remained positive since last Friday.
The shift in positioning and sentiment also aligns with a bullish chart pattern targeting the $67,000–$70,000 range.
BTC bulls attempt to regain control near support
Bitcoin’s recent rebound to $63,500 followed a bullish divergence between the price and the relative strength index (RSI) on the four-hour chart. The price printed a lower low during the early-June sell-off while the relative strength index (RSI) formed a higher low. The signal pointed to fading downside momentum before buyers stepped in.
BTC/USD, four-hour chart. Source: Cointelegraph/TradingView
Bitcoin is also trading within an ascending triangle pattern. A confirmed breakout may target the daily fair value gap between $67,500 and $70,500, an area of trading imbalance or liquidity gap left behind during the recent market correction.
The order book activity supports the move. Data from Hyblock shows the bid-ask ratio remained positive at 0.05 after Bitcoin tagged its yearly low at $59,000 last Friday. The metric tracks aggressive buying and selling activity. A positive reading suggests buy-side market orders have been slightly outpacing sell-side orders.
BTC price, bid-ask ratio, spot CVD. Source: Hyblock
The cumulative volume delta (CVD) data adds another layer of support. Smaller cohorts (up to $10,000 and $100,000 orders) have shown improving buying activity with $53 million and $157 million, respectively, while the largest participants ($100,000-$10 million) have significantly reduced net selling pressure by $900 million.
Crypto analyst Kripto Holder highlighted a $2.68 billion short-liquidity cluster near $64,600, calling it the primary upside liquidity pool.
The analyst said Bitcoin’s ability to hold above $63,000 following renewed conflict in the US-Iran war adds weight to the recovery case. Spot CVD inflows also indicate demand from spot…
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