Important takeouts:
Bitcoin prices close at the $110,000 level, with a drop in sellers and spot volume. The use of leverage has driven current gatherings to this level of resistance.
Traders are looking at today’s volume to see if daytime trends continue at the US Open on May 27th.
Bitcoin (BTC) prices have gone through a mild recovery over the weekend, but profits above $110,000 have been capped due to sales. Data from GlassNode shows “net distributions” (sales) from a cohort holding more than 10,000 Bitcoin, but cohorts below this level continue to accumulate.
The Cumulative Volume Delta of Spots and Futures on Binance Exchange reflects sustained sales as BTC prices approach the $110,000 level.
The futures market-led surge on Sunday (May 25) returned to $110,000, suggesting a roughly one-month extension to delay the 50% EU tariffs that will begin on June 1, following President Donald Trump’s announcement that EU Commission President Ursula von der Leyen had contacted him.
Compared to last week’s data, funding rates were cooled, particularly with high lipids (orange line). There, trader James Wynn alternated between a position 40 times longer than $1.2 billion and a leveraged short position of $500 million.
In terms of extracting the resistance seen at $110,000, flows could be curbed as the US market is closed on Memorial Day holidays, so the daily open market demand seen by the spot Bitcoin ETF, which accounted for $8.36 billion in BTC purchases since its launch in April, is supposed to BTC purchases that day.
Liquidation heatmap data encryption analysis platform The Kingfisher shows that margin traders are overweight on the long side, with the possibility of liquidation falling below $109,000 to $107,000.
Meanwhile, Coinglass data suggests that pushing the $110,000 resistance for BTC could cause a short liquidation, which could soon lead to a rally of up to $114,000.
Regarding this week’s purely technically focused price outlook, traders may be looking at price action today to see if the stock and Tradfi Crypto Markets continue to rise on March 27th.
Related: BTC Price Wants $155K “Trigger” – 5 Things You Need to Know About Bitcoin This Week
Depending on the current situation, Coinbase Pro can ask for $114,000 and $119,000, but bids start at $104,000 and will be strengthened as prices approach $102,000-$100,000.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
