Bitcoin hovered near $62,000 after recovering from an intraday dip to $61,300, closing the session with a modest 1.5% gain. The advance was notably smaller than the roughly 3% jumps recorded on July 1–2, as rising selling pressure tempered momentum.
Price Stabilizes After Early Dip
BTC briefly climbed to $62,338 before sellers capped the move, leaving the market range-bound between $61,000 and $62,000. The contained action follows strong gains to start July, with buyers meeting increased supply as the rally slowed.
Liquidations Ease as Momentum Cools
Crypto derivatives liquidations fell sharply alongside the narrower price range and softer upside. The decline contrasts with earlier sessions at the start of the month, when larger swings drove elevated forced position unwinds.
Range-Bound Trading After Early-July Rally
The market’s consolidation reflects a pause after the early-week run-up, with near-term direction likely hinging on whether BTC can establish support above $62,000 or retest the lower end of the recent band near $61,000.