Bitcoin News: Consolidation Continues as Analysts Question Liquidity-Driven Rally

Bitcoin’s price action remains in a consolidation phase, with analysts doubting whether increased liquidity alone can spark a significant rally. Here’s what you need to know.

Bitcoin Consolidation Likely to Persist Without Clear Catalyst

Analysts suggest that Bitcoin’s broader consolidation is likely to continue without a clear catalyst. They question whether liquidity growth alone can drive a rally, noting that while global liquidity often rises alongside BTC’s price, the connection might not be as strong as some traders think. Matrixport’s analysts observed that central bank liquidity expansions eventually flow into crypto markets, but Bitcoin (BTC) may stay in consolidation as the impact of this liquidity is debated.

NYSE Imposes Short Sale Restriction on GameStop Amid Surge in Short Interest

The New York Stock Exchange (NYSE) has imposed a Short Sale Restriction (SSR) on GameStop (GME) due to a significant spike in short-selling activity, similar to the 2021 short squeeze. Data from TradingView revealed a 234% increase in short sales volume within 24 hours, reaching 30.85 million shares sold short on March 27. The SSR rule was triggered by a 22% decline in GameStop’s stock during the trading session, erasing a recent 12% gain following a Bitcoin-related announcement. GME shares were trading at $22.09 at the time of reporting. The SSR restrictions limit short selling of GameStop shares through the next trading day.

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U.S. Spot Bitcoin ETFs Extend 10-Day Inflow Streak

U.S. spot Bitcoin exchange-traded funds (ETFs) have seen a continuous inflow of funds for 10 consecutive days, with Fidelity’s FBTC and BlackRock’s IBIT leading the way. On Mar. 27, a total of $89.06 million flowed into these ETFs, primarily due to FBTC’s $97.14 million inflow. However, this was partially offset by outflows from Invesco’s BTCO ETF and WisdomTree’s BTCW ETF. The positive trend in inflows suggests improving macroeconomic conditions and investor confidence in Bitcoin (BTC) as an asset class.

Bitcoin Supply Hits 8-Year Low—Is $138K BTC Price Still in Play?

Bitcoin’s (BTC) price has rebounded as whales have accumulated over 129,000 BTC worth $11.2 billion since Mar. 11. The exchange supply of Bitcoin has dropped to its lowest level since 2018, with only 7.53% remaining on exchanges, signaling a trend toward self-custody and long-term holding. This suggests reduced sell-side pressure and higher conviction among holders. However, caution lingers with a $75K pullback risk and a $138K cap in prediction markets.