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- 🔥 Poll: Can BTC Break Its ATH This Week?
ATH Recap: Bitcoin hit its ATH of $109,702.5 on Jan 20, 2025, followed by a consolidation phase.
Recent Trends: With easing geopolitical tensions, sustained institutional inflows, and improving market sentiment, BTC has shown strong upward momentum.
This Week’s Key Question: The market looks bullish, but the ATH remains a major resistance level.
🗳️ Share your take—let’s see where the market goes! - 🔵 #GENIUS Stablecoin Bill#
On May 20, Eleanor Terrett reported that the GENIUS Stablecoin Bill passed a procedural vote (66-32), officially entering the review phase, though it hasn't yet become law. This marks significant progress toward the first U.S. federal stablecoin regulation framework. Is this a positive compliance step or a sign of increasing regulatory pressure? Share your thoughts!
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Bitcoin Price Forecast: BTC gives up weekend gains, signaling potential bull trap as momentum weakens :
Bitcoin dips to around $103,000 on Monday, wiping out Sunday's gains and raising concerns of a short-term correction.
Metaplanet adds 1,004 BTC to its treasury, while spot Bitcoin ETFs saw $603.74 million in net inflows last week.
Technical indicators show weakening momentum, with rising bearish bets hinting at a possible bull trap and near-term correction.
Bitcoin (BTC) starts the week on a weaker note, falling by more than 3% to around $103,000 at the time of writing on Monday after briefly rallying over the weekend. The price action has raised concerns among traders about a potential bull trap, especially as momentum indicators show early signs of exhaustion. Despite continued positive corporate and institutional flows in the form of spot Bitcoin Exchange Traded Funds (ETFs) and Meta Planet’s accumulation, bearish sentiment appears to be gaining ground in the short term.
Bitcoin price drops to $103,000 as bearish bets increase
CoinGlass data shows that BTC’s long-to-short ratio falls to 0.94, the lowest level over a month. A ratio below one indicates that a larger number of traders are betting on the asset price to fall.
Metaplanet adds more Bitcoin, ETFs log inflows
Despite the increase in bearish bets, BTC corporate and institutional demand continues to strengthen. On Monday, Japanese investment firm Metaplanet announced that it had purchased an additional 1,004 BTC, increasing its total holdings to 7,800 BTC.
Additionally, according to SoSoValue data, US spot Bitcoin ETFs recorded a total inflow of $603.74 million last week, extending a five-week winning streak that began in mid-April. Bitcoin price should benefit if more corporate companies and institutional inflows continue and intensify. Still, the level of inflows registered last week is way below that seen in prior weeks.
Bitcoin Price Forecast: Momentum indicators signal weakness
Bitcoin price rallied 3.23%, breaking above its key resistance level at $105,000 on Sunday. However, at the time of writing on Monday, it has failed to find support around this level and is trading down more than 3% to around $103,000.
The momentum indicators on the daily chart show signs of weakness. The Relative Strength Index (RSI) reads 60 and points downward after being rejected from its overbought levels of 70 on Sunday, indicating fading bullish momentum.
The Moving Average Convergence Divergence (MACD) also showed a bearish crossover on Sunday, with the MACD line crossing below the signal line, giving a sell signal and indicating the potential start of a downward trend.
If BTC continues its pullback, it could extend the decline to retest the psychological support level at $100,000.
However, if BTC rebounds and closes above $105,000, it could extend the rally toward the all-time high of $109,588 set on January 20.
#BTC#