In crypto news today (June 14), Bitcoin is consolidating between $62,200 and $64,200, up just +0.5% overnight.This move in BTC has traders hoping that a strong support level is forming at $62,000 and could help Bitcoin hold above $60,000. Liquidations have slowed considerably, with just $270M over the past day, down from over $450M yesterday and nearly $2Bn last week.
Of the other major caps, SOL and XRP have shown strength overnight, up +2.2% and +1.9%, respectively. Trading volume continues to cool, at $79Bn over the past 24 hours, down from $81Bn today, indicating declining trader participation.
With BTC consolidating, Bitcoin ETF flows have seemingly slowed, dropping from $213M in outflows on June 10 to just $22M exiting the products yesterday. If outflows continue to slow, and possibly even turn green, this could be the real catalyst behind a larger upside move across crypto.
Although Bitcoin and the broader market have seemingly settled and ETF outflows have slowed considerably, the Fear & Greed Index is still at 12/100, or ‘Extreme Fear’, signaling that investors aren’t fully trusting this positive price action.
