Bitcoin Price Stuck in Range as BTC Traders Adopt “Wait-and-See” Strategy

From Cointelegraph

July 2, 2025 08:24:00 AM:

Bitcoin traders are becoming more defensive, with over $342.2 million in ETF outflows on July 1 and weak futures activity. Key levels to watch are $106,500 support and $109,000 resistance. US Bitcoin ETFs saw $4.7 billion inflows but stopped with the outflows. BTC remains range-bound, signaling cautious trading.

Outflows of $342.2 million were seen on July 1 from four funds, including Fidelity Wise Origin Bitcoin Fund and Grayscale Bitcoin Trust ETF. Leveraged ETFs show minimal activity, reflecting low-risk bias among investors. Futures market activity remains muted, with Binance BTC futures premiums dropping to a 21-month low.

Bitcoin open interest has declined by 35,560 BTC to around 650,000 BTC, well below May’s highs. Option markets show modest uptick in BTC risk reversals, but implied volatility remains low. Traders await Bitcoin price breakout as BTC hovers between $105,000 and $108,800. Analysts eye key levels for potential moves.

Bitcoin analysts are watching $106,500 support and $109,000 resistance for a potential breakout. A break above $109,000 could lead to new all-time highs, while a drop below $104,000 may signal a deeper correction. Consolidation within the range is expected to continue, with fresh demand needed for upward momentum.

Read more at Cointelegraph: Bitcoin Price Stuck in Range as BTC Traders Adopt “Wait-and-See” Strategy