BTC Market Update: Compression Amid Macro & Risk Signals

Bitcoin ($BTC) continues to trade in a tight range near $66,643, with price action showing clear compression. Volatility remains muted for now, suggesting the market is in a waiting phase ahead of a potential expansion.

Key Factors to Monitor:

Macro Environment: U.S. housing sales declined by 8.4%, the weakest reading since 2022, pointing to broader liquidity pressure. Commodities have also shown stress, with silver experiencing a sharp pullback as some retail participants move toward cash.

Corporate Activity: Public disclosures show that Brian Armstrong, CEO of Coinbase, has sold approximately $550M worth of company shares. While equity sales do not directly dictate crypto price action, some market participants view this as part of the broader risk backdrop.

Market Structure: Despite negative macro headlines, BTC has so far maintained its range, with sell pressure being met by visible absorption.

Outlook: Volatility expansion is likely at some point, but direction remains unconfirmed. A cautious, wait-for-confirmation approach remains appropriate until a clear breakout or breakdown occurs.

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