Bitcoin Fluctuates Around 108K Despite 4th July Optimism

While U.S. residents celebrated July 4th with “Happy Independence Day” cheers, Bitcoin ($BTC) presented a relatively quieter performance. As per the new market data, Bitcoin ($BTC) has presented a considerably stalled performance on the fourth of July, irrespective of the heightened expectations on the American Independence Day. Hence, irrespective of several favorable macroeconomic events and growing equity markets, Bitcoin has stayed mostly flat, around $108K.

Bitcoin Presents Stalled Price Movement Even on Fourth of July

The Independence Day has brought a lull in the overall crypto trading activity. In this respect, over the past 24 hours, Bitcoin has recorded a 0.78% dip in terms of price. As a result of this, its current price has reached $108,221.43. At the same time, the market capitalization of the flagship cryptocurrency has plunged by 0.72% to touch $215T.

Simultaneously, the 24-hour volume of Bitcoin stands at $43.4B, presenting a 9.49% decrease in the meantime. However, the 7-day performance of Bitcoin shows a 0.87% increase. Moreover, in line with Bitcoin’s 30-day price movement, it has seen a 2.82% upsurge. Even then, the 24-hour market outlook of Bitcoin displays a slowed momentum. Apart from that, the market dominance of the top crypto asset has reached 64.7%.

$BTC HODLers Keep Speculating Upward Trajectory in Near Future

Although Bitcoin’s price kept showing slight fluctuations, it hovered around the $108K mark. Thus, the overall muted performance has not fulfilled the hopes of the long-term $BTC HODLers. Nevertheless, they speculate significant price action in the near term.

Along with that, the open interest in Bitcoin ($BTC) has also slumped by 4.26% to reach the $73.20B spot. Moreover, the cumulative $BTC liquidations touched $47.22M. Particularly, Bitcoin bulls bore the brunt as $42.66M was wiped out in long positions while shorts recorded just $4.56M. Keeping this in view, the ongoing price stagnation of Bitcoin ($BTC) could push it toward a potential upward trajectory.