Bitcoin
On Monday, the silent climb accelerated at its highest price in June, bouncing from last week’s decline at high levels of all time.
The largest crypto advanced 3.7% in the last 24 hours, exceeding $ 110,000, and it only changes hands by 2% compared to its record prices observed in May. Etherum ether
Monitoring of the pace with a gain of 3.8% during the same period, bouncing above $ 2,620. Hyperliquid native token And Suis has surpassed most cryptocurrencies, increasing 7% and 4.5% respectively.
The Bitcoin movement is higher in leverage traders, liquidating more than $ 110 million in short positions in one hour, according to Coinglass data. In all cryptographic assets, some $ 330 million in shorts were liquidated during the day, most in a month. Shorts are looking to take advantage of the drop in asset prices.
This decision occurred while traditional markets have shown a mute action, the S&P 500 and Nasdaq indexes flat by day. Actions related to the crypto rebounded during the session to catch up with the restoration of the BTC during the weekend.
“A” peaceful rally “is an ideal way to describe this price action,” said analyst well followed Caleb Franzen, founder of Cubic Analytics. “Just a coherent development of higher and higher highs. All signs of weakness? Buyers intervene and defend the trend.”
The cryptography market is now more stable for a potential next leg after a drop of 10% bitcoin to almost $ 100,000 and with more than $ 1.9 billion in liquidations between cryptographic derivatives during last week, having rinsed an excessive lever effect, Bitfinex analysts noted in a Monday report.
However, data on the chain indicate an increase in the sales pressure of long -term holders who could overwhelm the demand, analysts added.
“Bitcoin is now at the crossroads – balanced between the structural support and the decrease in the bullish momentum, while waiting for its next macro signal,” added the Bitfinex note.
These macro-catalisters could arrive later this week, noted Jake O, an OTC trader to the crypto Wintermute trading company.
“US and Chinese trade representatives are expected to meet today, with markets probably sensitive to all titles after last week’s positive momentum, and the data calendar remains light until Wednesday, when the IPC offers new information on American inflation,” he said.
Update (June 9 21:51 UTC): Add short liquidation data from Coringlass.
