Bitcoin Bulls Dig In: $60K Support Holds as Markets Hold Their Breath
Crypto’s flagship asset stages a trench warfare defense at key psychological levels—while Wall Street ’experts’ still can’t decide if it’s a currency, commodity, or collective delusion.
Technical battleground: The $60,000 zone emerges as the line in the sand, with on-chain data showing whales accumulating at these levels. Meanwhile, leverage traders get liquidated en masse—some things never change.
Macro tremors: Fed rate decisions and ETF flows loom as potential catalysts, because nothing moves crypto prices like old-fashioned fiat monetary policy. The irony’s thicker than a Bitcoin maximalist’s Twitter thread.
$94,625 closed the weekend with a slight decline as the price pulled back from 97,895 USD to test below the 94,000 USD threshold. Although the trading volume remained weak, buyers defended the 94,000 USD level, preventing the anticipated sharp fall below the crucial 95,000 USD support. This activity has strengthened the perception that “bulls are retreating but have not fully surrendered” in the market. As the new week begins, attention turns to both the CME gaps and the Federal Reserve minutes along with the Coinbase balance sheet.
ContentsBitcoin Faces a Critical ThresholdCME Price Gaps Guide the Direction
Bitcoin Faces a Critical Threshold
The weekend’s decline encouraged those saying, “If 94,000 USD breaks, 92,000 USD is inevitable.” However, recent candles on the chart indicate sellers have not reached their target. Although the volume is relatively low, consecutive defensive purchases have brought the possibility of a short-term bottom into discussion. Some analysts comment, “On-Balance Volume remaining in the positive zone suggests a deep sell-off has been postponed.”
On a larger scale, the area around 95,000 USD serves as both a psychological and technical barrier. If buyers reclaim this region, it could open the door for a moderate jump towards the previous peak at 98,000 USD. On the other hand, upcoming verbal guidance after the FOMC meeting will determine the main wind that will affect the journey to 100,000 USD. In short, for now, the price is tight but potential remains high.
CME Price Gaps Guide the Direction
In the futures market, two significant price gaps stand out: above at 96,400 – 97,600 USD and below at 91,700 – 92,500 USD. Bitcoin often tends to fill these gaps, and whichever gap is filled first usually clarifies the short-term direction.
If the price first tests the lower gap, a strong “cleansing” move is expected around 91,700 USD. Such a shake-up could gather liquidity and bring a sharp rebound.
In the opposite scenario, a move above 96,400 USD would target short-term liquidity pockets at the 98,000 USD boundary. In this region, rapid profit-taking, known as “LTF liquidations,” may occur, but as long as the overall trend does not break down, the likelihood of profit-taking deepening remains low.
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