Bitcoin Price: Memorial Day Holds Key
Bitcoin Price Holds Near $110,000
Bitcoin (BTC) experienced a minor price recovery over the weekend, but selling pressure prevented a sustained move above the $110,000 mark. Data from Glassnode reveals net selling by holders of over 10,000 BTC, while smaller holders continue to accumulate.
Source: X / Glassnode
Binance Trading Activity
High volume selling on the Binance exchange is noticeable as BTC nears $110,000, affecting both spot and futures markets.
Source: TRDR.io
Trump's Announcement and Market Reaction
A Sunday surge back to $110,000 followed President Donald Trump's announcement regarding a potential delay in EU tariffs. This highlights the impact of geopolitical news on Bitcoin's price.
Source: Truth Social
Funding Rates and Trader Activity
Funding rates have cooled, particularly at Hyperliquid. Large leveraged positions, both long and short, have been closed by trader James Wynn.
Source: Velo
Memorial Day Impact and ETF Flows
The $110,000 resistance may remain strong due to the US Memorial Day holiday, pausing activity in the spot Bitcoin ETF market, which purchased $8.36 billion in BTC since April.
Source: SoSoValue
Liquidation Risks and Potential Rally
Margin traders are heavily long, increasing the risk of liquidations between $107,000 and $109,000. However, a break above $110,000 could trigger short liquidations, potentially pushing the price to $114,000.
Sources: X / TheKingfisher, CoinGlass
Price Outlook
Traders are observing today's price action to gauge market sentiment. Resistance levels are seen at $114,000 and $119,000 (Coinbase Pro), while bids increase near $100,000.
Source: TRDR.io
Disclaimer: This article does not provide investment advice. Conduct thorough research before making investment decisions.
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