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Bitcoin buyers return after fresh yearly low
Bitcoin (BTC) is drawing renewed buying interest after plunging to a new yearly low near $59,000 last week. Order book structure, cumulative volume flow and pronounced liquidity clusters all indicate a pending upward impulse, with $70,000 emerging as a realistic medium-term target as bulls reassert control.
Technical signals and chart patterns favor a rebound
A bullish divergence between price and the relative strength index (RSI) on the four-hour chart set the stage for a recovery toward $63,500. During the early-June sell-off Bitcoin printed a lower low while the four-hour RSI formed a higher low, signaling that downside momentum was weakening before buyers re-entered the market.
BTC/USD, four-hour chart.
Price action is also contained within an ascending triangle. If BTC confirms a breakout above the triangle, the path opens to the daily fair value gap between roughly $67,500 and $70,500 — a zone of unfilled liquidity and trading imbalance left by the correction that many traders now view as a logical upside target.
Order book readings and bid-ask trends back the move
Order book metrics reinforce the technical case. Hyblock's data shows Bitcoin's bid-ask ratio has remained positive since tagging the yearly low, settling around 0.05 after last Friday's bounce. This metric tracks aggressive buy and sell market orders; a sustained positive reading implies buy-side market orders are slightly outpacing sells, which often precedes stronger rallies in crypto markets.
BTC price, bid-ask ratio, spot CVD.
Cumulative volume delta (CVD) adds further confirmation. Smaller cohorts — orders up to $10,000 and up to $100,000 — have added roughly $53 million and $157 million in net buying respectively, while the largest category ($100,000–$10 million) has reduced net selling pressure by an estimated $900 million. That shift suggests large players are dialing back aggression, allowing smaller and mid-size buyers to accumulate.
Crypto analyst Kripto Holder flagged a concentrated short-liquidity cluster near $64,600 valued at about $2.68 billion, labeling it the primary upside liquidity pool. Such clusters can attract stop-hunts or short squeezes that accelerate upward moves once price tests the area.
The analyst also noted that Bitcoin holding above $63,000 even amid renewed geopolitical tensions — notably the US-Iran conflict — strengthens the recovery narrative, with spot CVD inflows pointing to genuine demand from spot market participants.
Key levels traders are watching
Market analyst PILTR reports a gradual increase in long exposure over the past five days, measuring 237 long levels versus 128 short levels — an approximate $4 billion positive imbalance in positioning. That skew toward longs supports a potential advance but also raises the specter of weekend profit-taking flows.
Crypto trader Ardi has a slightly different framing: he views BTC as still inside a bear pennant following the drop from $83,000 to $59,000. According to his four-hour analysis, clearing $64,000 would remove horizontal resistance and invalidate the pennant, giving Bitcoin room to press toward the next critical barrier near $66,000.
BTC/USD, four-hour analysis by Ardi.
Reclaiming the $66,000 area — previously a major support zone that now acts as resistance — would materially increase the odds of filling the unfilled fair value gap into the $68,000–$70,000 band. However, PILTR and other analysts caution that weekend positioning and classic profit-taking can introduce short-term volatility, especially after a concentrated build-up in long exposure.
Outlook
Taken together, order book dynamics, spot CVD flows, and technical setups suggest a high-probability recovery scenario for Bitcoin toward the $67,000–$70,000 range. Traders should watch the $64,000–$66,000 corridor for confirmation: a clean breakout and follow-through would likely attract more buying and could trigger short-covering near the large liquidity cluster just above $64,000. Risk management remains essential; weekend flows and sudden macro or geopolitical news can quickly alter intraday positioning in crypto markets.
Source: cointelegraph
Comments
atomwave
Makes sense tbh, order book and fair value gap logic lines up. Still, feels like classic yank up then dump, not betting heavy, will wait for clean breakout above 66k
coinflux
hmm is this even true? CVD and liquidity clusters sound fancy but who's really buying that much… weekend flows could wipe longs, stop hunt above 64k seems likely, careful, if that's real then...
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