📌📈🤑👉💸$100K becomes bulls' key level: 5 things to know in Bitcoin this week..
Bitcoin liquidity conditions form the backdrop of a battle for BTC price support, and bull market continuation, over the coming week.
Bitcoin heads into another heavy macro week with bulls hoping that the $100,000 support retest is done.
BTC price action offered some hope at the weekly close, with predictions of a return to all-time highs intact.
Liquidity grabs remain a focus, and could compound a deeper correction if $100,000 fails.
CPI and PPI are due this week, and attention is on the Fed in the week before the June FOMC meeting.
Bitcoin short-term holders have a key level at $106,200, potentially cementing short-term resistance at that level.
The public feud between Donald Trump and Elon Musk may already be a blessing in disguise for crypto hodlers.
Bitcoin weekly close inspires hope
Bitcoin managed to pass $106,000 before sellers appeared into the June 8 weekly close.
Despite volatility through the week, data from Cointelegraph Markets Pro and TradingView shows that BTC/USD came practically full circle to preserve its weekly open position.
This has implications for market observers keen to see evidence of price strength after a retest of $100,000 support.
For trader and analyst Rekt Capital, the result appears mixed, as $104,400 stayed in play, giving BTC/USD its fourth consecutive weekly close higher, but a full bull market comeback remained lacking.
“Bitcoin has broken its two-week Downtrend (light blue). Now, Bitcoin is trying to challenge the $106600 resistance (black),” they told X followers in part of their ongoing analysis on June 8.
“Some light rejection here would be normal. But the goal is for Bitcoin to Daily Close above black for continued bullish bias.”
Others already see encouraging signs when it comes to Bitcoin leaving its trip to $100,000 in the past.
Fellow trader Matthew Hyland noted that price has now had several daily candle closes above the 10-period simple moving average.
