Bitcoin

After hitting weekly highs, TradingView showed <a href="https://optimisus.com/press-releases/michael-saylor-criticizes-the-secs-restrictive-approach-to-the-crypto-industry/" rel="noopener noreferrer nofollow">Bitcoin (BTC) below $68,000</a>. The US Memorial Day holiday spike to $70,600 was unrelated to institutional demand for spot Bitcoin exchange-traded funds.  
Bitcoin's current advance lasted just a short time before the market retraced. After $7 billion in BTC left Mt. Gox accounts, volatility increased.  
“And there is a full retrace of that recent pump as expected,” prominent trader Credible Crypto commented on X (formerly Twitter).  
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Latest CoinGlass data shows liquidity concentrations around spot price, with $67,000 being the closest point of interest.  
Following the last 24 hours, fellow trader Daan Crypto Trades indicated a favorable influence on market structure—leverage elimination.  
“All positions entered during yesterday's move were flushed out and the funding rate is back to neutral,” he stated on X with an open interest chart.  
“ETH is stronger, but as long as BTC is within its larger range we'll see more low-timeframe chop.”  
This kept BTC price performance dependent on overcoming major resistance and turning it to support. 
The post <a href="https://optimisus.com/news/crypto-news/btc-price-action-shows-sensitivity-to-mt-gox-events-leaving-69000-unclaimed-as-new-support/" rel="noopener noreferrer nofollow">BTC price action shows sensitivity to Mt. Gox events, leaving $69,000 unclaimed as new support</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

BTC price action shows sensitivity to Mt. Gox events, leaving $69,000 unclaimed as new support

Optimisus

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