Bitcoin market in 'hibernation' as perp trading activity sinks to three-year low ahead of US CPI release: K33

Bitcoin Ignores Good Inflation Data as Demand Stays Absent: What's Going On?

Bitcoin spot trading volume hit 2019 lows as price stalls between $63k–$68.7k; despite benign 2.5% core CPI and record equities, buyer demand remains absent. Derivatives traders hold unprecedented net-long positioning since March on minimal spot support; order book depth down 33%, risking cascade below $63k toward $58.5k without meaningful bids.