Bitcoin Orderbook Structure Hints At Recovery To $70K

A positive bid-ask readings and a bullish RSI divergence support Bitcoin's recovery, with $70,000 emerging as a key target.  Bitcoin (BTC) is gaining buyers’ interest after setting a new yearly low at $59,000 last week. Order book data and liquidity suggest a rally is pending and more than $2 billion in short liquidity is concentrated near $65,000. BTC's bid-ask ratio has remained positive since last Friday. The shift in positioning and sentiment also aligns with a bullish chart pattern targeting the $67,000–$70,000 range. Bitcoin's recent rebound to $63,500 followed a bullish divergence between the price and the relative strength index (RSI) on the four-hour chart. The price printed a lower low during the early-June sell-off while the relative strength index (RSI) formed a higher low. A confirmed breakout may target the daily fair value gap between $67,500 and $70,500, an area of trading imbalance or liquidity gap left behind during the recent market correction. Data from Hyblock shows the bid-ask ratio remained positive at 0.05 after Bitcoin tagged its yearly low at $59,000 last Friday. Smaller cohorts (up to $10,000 and $100,000 orders) have shown improving buying activity with $53 million and $157 million, respectively, while the largest participants ($100,000-$10 million) have significantly reduced net selling pressure by $900 million.