Bitcoin lines up volatility after a successful weekly close, with BTC price busy making a “historic technical feat” this week.
BTC price action is busy making impressive achievements despite staying rangebound below all-time highs — but Bitcoin volatility catalysts are right around the corner.An increasingly unpredictable short-term market landscape has made for interesting viewing — and trading — in June so far. External triggers in the form of United States macroeconomic data have shown themselves capable of flipping crypto trajectory in an instant.
With no breakout up or down, liquidity began to thicken around spot price in classic style, as tracked by monitoring resource“Not much change in spot orderbooks. Ask liquidity firming up around $70.5K - $71K. Bid liquidity firming up around the low $68.5K - $68K,” popular trader Skew concluded in his latest
“It would be massive to have a breakout at $71.7K, but it’s standard to be conservative during CPI week,” he concluded.The macro landscape is dominated by two key events this week: the Fed interest rate decision and accompanying press conference, along with the May print of the Consumer Price Index .
“But let’s not forget that when economic data shakes the market, those moves tend to get retraced later on. And we have this same case with the NFP’s move 2 days ago,” CrypNuevoThe weekly close for BTC/USD was significant within the broader consolidation structure in place since March’s $73,800 all-time highs.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Michael Saylor Reacts as Bitcoin (BTC) Breaks Above $71,000Vocal Bitcoin proponent Saylor makes BTC prediction as Bitcoin surpasses $71,000 price mark
Read more »
Michael Saylor Celebrates Important Bitcoin Anniversary: DetailsVocal Bitcoin proponent Saylor has published celebratory Bitcoin tweet to recall his personal BTC anniversary
Read more »
Cryptocurrencies Price Prediction: Bitcoin, Ondo & ShibaBitcoin/ U.S. dollar (BTC/USD) trading strategy: Overall, Bitcoin is still in an uptrend.
Read more »
Bitcoin Price Alert: 273,000 BTC Held at Key Bitcoin Supply RangeBitcoin reached highs of $71,980 before encountering resistance
Read more »
Bitcoin price monthly close above $69K would be 'epic' — New analysisBitcoin preps a monthly close around a key level with implications for future BTC price gains.
Read more »
Bitcoin Wyckoff pattern eyes $85K, but BTC price must close the week above this level firstBitcoin first needs a weekly close above the $71,300 mark to confirm a price breakout to new all-time highs.
Read more »