Bitcoin faced downward pressure on April 25, with the price experiencing a notable dip as geopolitical news triggered a knee-jerk reaction among investors. This resulted in BTC shedding up to 5% of its value within a short timeframe.

As the cryptocurrency market grappled with renewed uncertainties stemming from geopolitical developments, Bitcoin attempted to establish support around the $64,000 level. Prior to the opening of Wall Street, trading data revealed a notable increase in liquidity levels on various crypto exchanges.

Of particular interest was the emergence of a sizable cloud of asks hovering above the $64,765 mark, extending all the way up to $67,700. On the flip side, bid interest was relatively modest, concentrated around the $63,500 range, corresponding to the local low.

It's worth noting that Bitcoin managed to fill one of the two gaps recently formed in CME Group futures with its latest downward movement. Despite this, trader sentiment remains cautiously optimistic, with funding rates deemed healthy, laying a potential foundation for a gradual price recovery.

Commentators, such as popular trader Daan Crypto Trades, underscored the importance of maintaining this stability to avoid a rush of speculative buying on the next bullish signal. This sentiment aligns with market updates from trading firm QCP Capital, which suggested that the market anticipates capped upside and short-term consolidation.

Meanwhile, in the United States, spot Bitcoin exchange-traded funds (ETFs) experienced net outflows on April 24, driven mainly by withdrawals from the Grayscale Bitcoin Trust (GBTC). Notably, the largest ETF offering from asset manager BlackRock saw zero inflows, deviating from previous trends.

Looking ahead, all eyes are on the upcoming launch of spot ETFs in Hong Kong scheduled for April 30. This marks yet another significant milestone in Bitcoin's journey toward broader institutional adoption, as it further expands its presence in global financial markets."