📉 Cryptocurrency Market Update – Saturday, May 31, 2025
The digital markets experienced sharp fluctuations today, with the price of Bitcoin dropping below $104,000, leading to the liquidation of positions worth over $827 million in just 24 hours.
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🔍 Main Reasons for the Drop:
1. Negative Technical Signals:
Bitcoin trading below the Ichimoku cloud indicates bearish momentum.
Potential formation of a "death cross" between the 50 and 200-day moving averages.
2. Liquidation of Leveraged Positions:
High levels of leverage led to the liquidation of long positions worth $827 million, increasing selling pressure.
3. Geopolitical Tensions:
Renewed trade tensions between the United States and China have decreased investor confidence, negatively impacting digital markets.
4. Decline in Institutional Flows:
Funds like Grayscale Bitcoin Trust (GBTC) recorded net outflows of $120 million, reflecting a decline in institutional investor interest.
📊 Future Outlook:
Key Support: $100,000 – Maintaining this level may prevent further declines.
Next Resistance: $106,726 – Breaking this level may indicate the beginning of a recovery.
📈 Upcoming Predictions:
Despite the current decline, some analyses suggest the possibility of Bitcoin rising to $104,870 in the coming days.