According to Cointelegraph: Bitcoin (BTC) traded lower on April 25, following a swift reaction to geopolitical news in the Middle East, which resulted in up to a 5% decrease for the bulls. The BTC price now hovers near $64,000.
According to data from Cointelegraph Markets Pro and TradingView, BTC's price action is attempting to form support at $64,000 before Wall Street's opening.
This decline comes after a drop to around $63,575 at the previous day's closing due to renewed Middle East tensions. Latest statistics from monitoring platform CoinGlass indicate an increased liquidity on both the buy and sell side of the spot price on various crypto exchanges.
Importantly, a substantial volume of sell orders has appeared, beginning with around $75 million at $64,765 and escalating up to $67,700. Comparatively, the local low at $63,500 saw limited buying interest.
Famed trader Daan Crypto Trades underscored the "healthy" state of funding rates, suggesting it as a foundation for a slow but consistent rise in BTC's price going forward.
Spot Bitcoin exchange-traded funds (ETFs) in the United States reverted to net outflows on April 24, mainly driven by withdrawals from Grayscale Bitcoin Trust (GBTC), according to sources including UK-based investment firm Farside.
Bitcoin's sensitivity to geopolitical events and the subsequent impact on price action remind traders of the inherent volatility and risk associated with cryptocurrency investment.
