Bitcoin remains stalled around $63,000 while the S&P 500 hit a record at 7,798.99 points. This $63,000 level represents Bitcoin’s Median Realized Price, the average cost basis of holders. US spot Bitcoin ETFs recorded $61.1 million in net outflows on Aug. 12, highlighting weak institutional demand. Spot liquidity has fallen to its lowest level since the data series began in early 2019, with visible buy-order depth declining roughly 33% since early July, raising the risk of forced selling if price breaks decisively below $63,000.
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