Bitcoin holds above $65,000 despite a hawkish Bank of Japan rate hike that tightened global liquidity conditions.
With crypto sentiment improving from extreme fear to fear, investors are now focused on the Federal Reserve’s upcoming policy decision for the next major market catalyst.
Notable Statistics:
- Coinglass data shows 100,849 traders were liquidated in the past 24 hours for $411.24 million.
- SoSoValue data shows net outflows of $64.09 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $22.5 million.
- In the past 24 hours, top losers include Audiera, Toncoin and Venice Token.
Notable Developments:
Trader Notes:
Technical analyst Charting Guy says Bitcoin is currently in a consolidation phase before a major bullish breakout.
Unlike the slow February-to-May recovery that stalled near the 200-day EMA, they expect the next move to be a sharp, momentum-driven rally that quickly pushes BTC toward the May high around $83,000 and signals the bear market has ended.
He argues that many bears will remain skeptical and buy into the four-year cycle narrative even after a breakout. That lingering bearishness could fuel an even stronger rally, eventually forcing sentiment to flip bullish.
Daan Crypto Trades noted Bitcoin has recovered deeper into its broader trading range but is unlikely to break out immediately.
Instead, they expect BTC to spend several more weeks consolidating within the current range as summer approaches, a period that historically brings lower liquidity and reduced volatility.
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