BIT Research said the current Bitcoin market is being constrained by several overlapping pressures, with liquidity contraction at the center of its assessment. According to the report, a hawkish shift from the Federal Reserve, shrinking stablecoin liquidity and seasonally light trading have all weighed on market conditions, leaving Bitcoin under pressure while it trades above the $60,000 level.
The firm identified $62,446 as the key support level now facing a test. That level has become central to the current market discussion because Bitcoin lacks a clear short-term upside catalyst, while the broader liquidity environment has not shown a meaningful improvement. Under these conditions, price action remains pressured rather than supported by fresh momentum.
BIT Research also compared the current setup with Bitcoin’s bottom-building phase in 2022. In that framework, the market could follow a similar accumulation pattern: short-term upside drivers remain limited, but the ongoing liquidity retreat and consolidation phase may serve as a period in which momentum is built for the next bull cycle.