Bitcoin touched $64,000 on Monday but remained trapped between $62,000 support and $65,000 resistance as contracting spot activity, weak liquidity and spot ETF outflows kept conviction muted, Glassnode said. The firm's Week 34 Market Pulse report, written by analyst Chris Beamish, said derivatives positioning also stayed cautious, with moderately higher leverage, increasingly sell-side perpetual taker flows, positive funding rates and options markets still paying up for downside protection. Aggregate ETF holdings are now near cost basis and on-chain realized losses continue to exceed profit-taking, though the pace of capital outflows has begun to moderate, offering an early sign that selling pressure may be stabilizing while the market consolidates.