Bitcoin (BTC) continues to trade in a tight range near $107,000, while market data reveals a quiet selloff from older wallets, coupled with increased institutional demand, keeping prices contained despite high trading volumes.
At press time, Bitcoin was trading at $107,619, down 2.8% in 24 hours, after ranging between $107,623 and $111,555. These levels represent a weekly decline of about 5% and a monthly decline of 7%, or about 14% below the all-time high of $126,080 on October 6.
Daily trading volume rose to $60.7 billion, an 11.4% increase from the previous session, indicating a relative recovery in activity around current levels. However, CoinGlass data revealed a 2.3% decline in open interest to $70.12 billion, and a 19% decline in derivatives volume to $102.37 billion, reflecting traders' caution and a reduction in short-term positions.
