Ah, Bitcoin (BTC), the cryptocurrency that’s like that one friend who promises to pay you back but never does. Over the weekend, it staged a mild recovery, which is a fancy way of saying it didn’t completely crash and burn. However, gains above $110,000 are being capped by selling—because who doesn’t love a good cap? Data from Glassnode reveals that the big whales (those holding more than ten thousand Bitcoin) are busy distributing their assets like they’re handing out candy at a parade, while the little fish are still accumulating. 🐟
Meanwhile, the spot and futures cumulative volume delta at Binance is reflecting persistent selling, like a bad breakup that just won’t end. Every time BTC approaches that elusive $110,000 level, it’s like watching a toddler try to reach a cookie jar on a high shelf—lots of effort, but no reward.
On Sunday (May 25), the futures market had a little surge back to $110,000, thanks to President Trump’s announcement that EU Commission President Ursula von der Leyen had contacted him. Apparently, they’re delaying the 50% EU tariffs that were supposed to start on June 1. Because nothing says “let’s celebrate” like a political phone call! 🎉
In a shocking twist, funding rates have cooled, especially at Hyperliquid, where trader James Wynn was playing a high-stakes game of financial Twister with a $1.2 billion 40x long position and a $500 million leveraged short position. Spoiler alert: both are now closed. Talk about a rollercoaster ride! 🎢
As for breaking through that pesky $110,000 resistance, it seems flows might remain suppressed since US markets are closed for Memorial Day. So, the daily open market demand from the spot Bitcoin ETFs, which have accounted for a whopping $8.36 billion in BTC purchasing since April, are taking a day off. Must be nice! 😴
Liquidation heatmap data from TheKingfisher shows that margin traders are feeling a bit too confident on the long side. Liquidations could start below $109,000 to $107,000, which is like watching a slow-motion train wreck. 🚂💥
On the flip side, CoinGlass data suggests that if BTC manages to push through the $110,000 resistance, it could trigger a short liquidation that might send prices soaring to $114,000. Because who doesn’t love a good plot twist? 📈
As for the technical price outlook for the week, traders are glued to their screens, watching today’s price action to see if any futures and spot CEX market upside is followed by bullish flow into the March 27 equities and TradFi crypto markets open. It’s like waiting for a sequel to a movie you didn’t even like the first time! 🎬
Currently, there’s a block of asks at $114,000 and $119,000 at Coinbase Pro, while bids start at $104,000 and intensify as the price gets closer to $102,000-$100,000. It’s a financial buffet, and everyone’s trying to get their fill before the doors close!
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2025-05-26 19:48