BIT Research said the current Bitcoin market is being weighed down by a loss of liquidity. According to the note, a hawkish shift by the Federal Reserve, a contraction in stablecoin liquidity, and seasonally light trading conditions are acting together against Bitcoin. The price remains under pressure above the $60,000 level, while the key support at $62,446 is facing a direct test.
The research view emphasizes that Bitcoin lacks a clear short-term upside catalyst. Stablecoin liquidity has tightened, reducing available funds in the market, while the Federal Reserve’s policy stance continues to pressure risk assets. At the same time, seasonal trading activity remains thin, limiting upward momentum for the asset.
BIT Research also said the market could repeat the bottom-building pattern seen in 2022. Although price action remains weak in the near term, such a structure would allow Bitcoin to accumulate momentum for the next bull market. For now, the central level highlighted in the report is whether the $62,446 support can hold.