#Bitcoin is trading lower on April 25 following the immediate reaction to geopolitical news costing bulls as much as 5%. Data from TradingView showed that Bitcoin price action is attempting to form support at $64,000 before Wall Street opens. This follows a decline to around the previous daily close of $63,575 due to tensions in the Middle East.

What's Happening on the Bitcoin Front?

Liquidity increased on both sides of the spot price on crypto exchanges during the day, according to the latest figures from blockchain data analysis platform CoinGlass. Remarkably, approximately $75 million worth of liquidation occurred between $64,765 and $67,700. On the downside, there was relatively modest bid interest focused on the local low of $63,500.

With its latest downside, Bitcoin has managed to fill one of the two futures gaps that CME Group recently created.

Commenting on the current situation, popular trader and analyst Daan Crypto Trades reiterated the healthy state of funding rates as the basis for a slow but steady Bitcoin price recovery going forward and shared the following words with his followers via X alongside Coinglass data:

"Keep it this way as the process continues and we should have a solid foundation to move higher. I don't want to see long tails coming back on the next best green candle."

Remarkable Details About Bitcoin

In the latest edition of New York Color market updates sent to Telegram channel subscribers on April 24, trading firm QCP Capital revealed that crypto sentiment has changed on lower time frames, and the report included the following statements on this subject:

"The market expects the rise to be limited and the spot price to consolidate in the short term."

Meanwhile, US spot Bitcoin exchange-traded funds continued to experience net outflows on April 24. In this process, the 71-day fund inflow series on the IBIT side of BlackRock's spot Bitcoin ETF fund was broken. The selling pressure experienced was mostly caused by outflows from Grayscale Bitcoin Trust (GBTC) and data from sources such as UK-based investment company Farside.