Bitcoin support gets a fresh retest as BTC price momentum fades after its record monthly close.
BTC/USD 1-hour chart. Source: TradingViewCommenting on the situation, popular trader Daan Crypto Trades suggested that the Easter holiday period may be a factor.Daan Crypto Trades added that overall, GBTC outflows “seem to be slowing down.” $104 million left on the final trading day of Q1, considerably less than the record $642 million seen on March 18.
“In the last 24 hours, we've seen significant interest to sell calls and buy puts in both BTC and ETH,” it reported.Examining exchange order book liquidity on largest global trading platform Binance, trading resource Material Indicators painted a grim picture for BTC price action between now and the upcomingIn a series of X posts, the firm, along with co-founder Keith Alan, flagged increasing bid liquidity further toward $60,000.
Alan continued that Bitcoin may be posing a problem for institutional buyers thanks to price acting within relatively uncharted territory. “At least one entity believes that's a high probability as they have laddered over $150M in BTC bids all the way down to $62k after price dipped below $69k briefly,” he
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