Bitcoin rally faces key test at $68,000 as 'summer slumber'

Bitcoin's rebound faces a key test at $68,000, a price near the average purchase price of buyers over five months, according to Bitfinex analysts. They warn the first retest could trigger a sharp response. Meanwhile, K33 Research notes institutional participation has faded, with CME bitcoin futures open interest at its lowest since 2023 and spot trading volume at 62% of its annual average.