Bitcoin climbed back above $63,000 on Monday and remains unaffected by Michael Saylor’s announcement today. The recovery was supported by a return to positive spot ETF inflows, helping to lift market sentiment out of the extreme fear zone.
Notable Statistics:
- Coinglass data shows 90,220 traders were liquidated in the past 24 hours for $405.86 million.
- SoSoValue data shows net inflows of $221.72 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $29.08 million.
- In the past 24 hours, top gainers include Pyth Network, DeXe and LayerZero.
Notable Developments:
Trader Notes:
Crypto chart analyst Ali Martinez explained Bitcoin has triggered a TD Sequential sell signal, indicating potential short-term downside after Michael Saylor’s company, Strategy, reportedly sold $215 million worth of BTC.
“Not exactly the combination bulls want to see,” he added.
Michael van de Poppe noted that Bitcoin has made a strong rebound from its recent support zone, matching the expected bullish setup.
After a shallow retest, the outlook remains positive, with the next likely target being the $67,000–68,000 resistance area, where price could sweep liquidity above the previous high before determining the next move.
Trader KillaXBT argues that expecting much lower Bitcoin prices is misguided because each Bitcoin cycle has generally seen shallower pullbacks than the previous one.
Relying on a specific historical price target assumes the market will repeat past patterns exactly, but the trend in diminishing retracements suggests market behavior is evolving, making that assumption less reliable.
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Source: Original Article
