According to MarsBit, BIT Research said in its latest view that the Bitcoin market is being pressured by several forces at the same time. The Federal Reserve’s hawkish shift, shrinking stablecoin liquidity and seasonally light trading have all weighed on price action, leaving Bitcoin under pressure above the $60,000 level.
The key level highlighted by BIT Research is $62,446. That support area is now facing a test, reflecting the lack of upward momentum as liquidity continues to fade. In the note, the contraction in stablecoin liquidity is presented as a constraint on funds available to enter the crypto market, while quieter seasonal trading has also reduced short-term buying activity.
BIT Research’s view does not describe the current setup as a simple one-way decline. It says Bitcoin lacks a clear near-term upside catalyst, but the market structure could resemble the bottom-building pattern seen in 2022. Under that reading, the market is consolidating under pressure while building momentum for the next bull cycle. The price reaction around the $62,446 support level will be an important reference point for judging the pace of the current adjustment.