Bitcoin Stays Locked in 'Stalemate' — Market Talk

Bitcoin is up 1.9% to $64,223, and remains within it's recent general trading range between around $52,700 at its floor, and a short-term realized price just above $67,000. This "stalemate" between the two sides has kept bitcoin prices in place, says Bitfinex in a note. "Situations combining low liquidity, reduced volume and stalling price action typically precede late bear market conditions," the firm explains. But if bitcoin manages to surpass the $67k mark, then there may be a breakout ahead. "Reclaiming the $67,176 level would restore profitability for recent buyers and test overhead resistance," says the firm. ([email protected])