United

Bitcoin

Gains

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin (BTC) traded at $67,500 into June 1, with last-minute price volatility affecting the market.</li> 
 <li>Despite market fluctuations, Bitcoin managed to retain 11% monthly gains.</li> 
</ul>  
<p>Bitcoin (BTC) was trading at a value of $67,500 as June 1 began.</p> 
<p>The last-minute volatility in BTC’s price prevented bulls from reaching key resistance.</p> 
<h2 id="data-indicates-monthly-gains">Data Indicates Monthly Gains</h2> 
<p>The BTC/USD was flat at the monthly close after it recovered from weekly lows.</p> 
<p>These lows were a result of concerns over a cryptocurrency exchange hack in Japan and aggressive trading moves as the month-end approached.</p> 
<p>The United States macroeconomic data, specifically the Personal Consumption Expenditures (PCE) index, didn’t substantially improve the market mood, even though it slightly beat expectations, indicating slowing inflation.</p> 
<h2 id="market-reaction-and-predictions">Market Reaction and Predictions</h2> 
<p>Bitcoin reversed at around $66,650, resulting in a close that put May’s monthly gains at 11%.</p> 
<p>Michaël van de Poppe, founder and CEO of trading firm MNTrading, noted that Bitcoin is consolidating nicely and that the markets are slowly gearing up for further upward momentum.</p> 
<p>A closer look at the recent BTC price behavior reveals that Bitcoin whales, or large-volume traders, are responsible for the market volatility.</p> 
<p>These traders manipulated liquidity as the month came to an end, leading to a failed attempt to flip $69,000 to support.</p> 
<p>The liquidity levels for the BTC/USDT pair on the global exchange <a href="https://crypto.ro/en/exchange/binance/">Binance</a>, along with volumes from various whale cohorts, were also highlighted.</p> 
<p>These moves were described as “killer whale games in action”.</p>

Despite 3% Dip, May Proves to be Bitcoin’s Strongest Since 2019

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