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Bitcoin (BTC) extended losses into the June 17 Wall Street open as bulls failed to mount a comeback.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/25907fbb-a475-42d5-ba29-40dd7c3b5eb4.png" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart. Source: TradingView
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<h2 data-ct-non-breakable="true" id="bitcoin-trader-hopes-for-red-monday-green-week">Bitcoin trader hopes for “red Monday, green week”</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA..">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener nofollow">TradingView</a> showed Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) dropping to $65,066 on Bitstamp, nearly matching one-month lows from June 14.
A <a href="https://cointelegraph.com/news/bitcoin-bounces-1-month-lows-btc-price-levels-next">modest uptrend over the weekend</a>&nbsp;failed to sustain during the week’s first Asia trading session, with United States markets continuing the lackluster mood.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/e0b27a42-81a5-47e6-bb54-6d4dd849b471.png" alt="" title="">
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 Source: <a href="https://x.com/Rager/status/1802700961183350997" target="_blank" rel="noopener nofollow">Rager</a>
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“This is where you’d wanna see Bitcoin form a higher low -- or it starts looking like $62,000 is on the menu,” popular trader Jelle <a href="https://x.com/CryptoJelleNL/status/1802650701912293772" target="_blank" rel="noopener nofollow">warned</a> in one of the day’s posts on X.
<blockquote data-ct-non-breakable="true">
 “Red Monday, green week?”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/6ed8f22e-7d4e-4f6c-ab6d-4087b59526c6.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart. Source: Jelle/X
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Traders held various support levels in mind, these <a href="https://cointelegraph.com/news/bitcoin-whales-new-btc-price-48k-target">extending down to $60,000</a>, with multi-month lows on the radar should that level also fail to hold.
$65,000 represented a major focus in terms of liquidity on the day after $66,000 disintegrated.
“Big liquidity level at $65K and $66.3K. Keep in mind, there will always be levels on both sides and these don’t always get tapped. These levels can act as a magnet when price trades close to it,” fellow trader Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1802700094870855911" target="_blank" rel="noopener nofollow">commented</a> alongside order book liquidity data from monitoring resource <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMap" target="_blank" rel="noopener nofollow">CoinGlass</a>.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/73834692-0c3e-4aab-8da6-332640cae6f6.png" alt="" title="">
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 BTC liquidation heatmap (screenshot). Source: CoinGlass
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Trader Crypto Tony, meanwhile,&nbsp;<a href="https://x.com/CryptoTony__/status/1802596539111505996/photo/1" target="_blank" rel="noopener nofollow">highlighted</a> $67,300 as a level to flip to support for those considering going long BTC.
An accompanying chart showed an inverse head-and-shoulders pattern — potentially cause for optimism should a local low have been completed.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/55f2002c-990d-430c-9ec6-6e0d1661fb13.jpeg" alt="" title="">
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 BTC/USD chart. Source: Crypto Tony/X
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<h2 data-ct-non-breakable="true" id="exchanges-see-uptick-in-btc-inflows">Exchanges see uptick in BTC inflows</h2>
Gauging market reactions to the latest BTC price moves, onchain analytics platform CryptoQuant noted an uptick in coins being sent to exchanges.
Related: <a href="https://cointelegraph.com/news/66k-btc-price-critical-5-things-bitcoin-this-week">$66K BTC price now ‘critical’ — 5 things to know in Bitcoin this week</a>
Particularly in focus were coins that last moved between three and six months ago, as well as those dormant for up to a year.
“40% of the sent Bitcoins are in the 3M-6M range, 20% are in the 6M-12M range, and the remaining portion is mixed,” contributor XBTManager wrote in one of CryptoQuant’s “<a href="https://cryptoquant.com/insights/quicktake/666f0f678795fa048e5eb8c2-Spent-Output-Age-Bands" target="_blank" rel="noopener nofollow">Quicktake</a>” market updates on June 16.
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 “These sent Bitcoins will create selling pressure. This analysis covers the short term, indicating that after a certain rise, the selling pressure will increase, and it looks like we will enter free fall again.”
</blockquote>
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/8afd19dc-de74-4a31-9065-a4ff7c1aa027.png" alt="" title="">
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 Bitcoin Spent Output Age Bands data (screenshot). Source: CryptoQuant
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

BTC price risks $62K dip as Bitcoin sellers return to exchanges

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