#$BTC

Bitcoin is currently forming a clear descending channel, finding support around 63850 and a lower boundary near 61100. Typically, descending channels suggest potential bullish breakouts. However, BTC recently encountered resistance within the breakout range during the current 4-hour candle.

Given the current structure and price action, the market appears poised to maintain a sideways trend. Encouragingly, approximately 7 contracts worth $4 billion from various low-cap projects have recently expired, potentially freeing up capital to flow into larger-cap assets. This could positively impact the market in the upcoming week.