Bitcoin dips to $63,053 then rebounds to $63,390 this week
bitcoin's price took a dip this week, landing at $63,053 before bouncing back a bit to $63,390.33.
Even though US inflation numbers were disappointing, the crypto market barely reacted.
Overall, bitcoin is down 1.45% for the week and continues to move sluggishly.
Spot volume weakest since 2019
bitcoin's daily spot trading volume has dropped to $1.19 billion, its weakest since 2019 and way below the $14.7 billion peak in February.
Plus, Bitcoin ETFs saw over $200 million leave this week, showing big investors are losing interest for now.
Analysts say $62,000 is a crucial support level; if bitcoin falls below that zone ($63,000-$62,400), it could slide further toward $60,000-$61,200.
On the upside, resistance sits at $64,000 and between $65,200 and $65,500, with RSI remaining neutral and BTC below several key moving averages right now.