**Bitcoin Faces Potential Rebound Amid Lower Highs and Key Support Levels**

Bitcoin (BTC) is seeing a sideways trend, but the daily chart has shown its third lower high since March. Historically, these lower highs in April and June led to significant corrections of 23% and 26%.

- **Spot Volume Drop**: Retail BTC market spot volumes have plummeted by 62% in four months, from $29 billion to $11 billion.

- **Futures Activity**: Despite this, Bitcoin futures and perpetual open interest are near all-time highs with a positive funding rate, indicating long positions are paying short traders.

- **Support Levels**: BTC risks retesting support between $64,500 and $63,000. A drop below $63,500 could trigger further declines.

- **Long-Term Support**: Key support lies between $60,000 and $56,000, where over 6 million addresses hold 2.42 million BTC.

Crypto analyst Captain Faibik highlights the importance of defending the $65,200 support to avoid revisiting the $60,000 level.