Bitcoin is moving higher, but the volume is telling a very different story. Spot volume is down over 37%. Futures volume is down over 35%. Yet price keeps grinding higher. That is not the kind of move that usually has strong conviction behind it. When I look at the chart, all I see is a market bubbling higher on weak participation. Could it go higher? Absolutely. In fact, I still think there is a decent chance we see $64.5k before this move is finished. But if we get there, I think it becomes a much more interesting area to start looking for downside. The whole move since the stock market closed on Friday has happened on very little real volume. For now, it just looks like more liquidations

Bitcoin is moving higher, but the volume is telling a very different story.

Spot volume is down over 37%.

Futures volume is down over 35%.

Yet price keeps grinding higher.

That is not the kind of move that usually has strong conviction behind it.

When I look at the chart, all I see is a market bubbling higher on weak participation.

Could it go higher? Absolutely.

In fact, I still think there is a decent chance we see $64.5k before this move is finished.

But if we get there, I think it becomes a much more interesting area to start looking for downside.

The whole move since the stock market closed on Friday has happened on very little real volume.

For now, it just looks like more liquidations being created before the market eventually decides where it actually wants to go.

— That Martini Guy ₿ (@MartiniGuyYT) Jun 20, 2026