Bitcoin (BTC) is on track to end May with losses exceeding 3%, trading around $73,500. Key US labor market data, including the ISM Manufacturing PMI, is anticipated to be a major catalyst for volatility in risk assets next week. Analysts are watching the $73,000 level for the monthly close.
The CLARITY Act, which aims to regulate the crypto market, is set for consideration by the Senate Banking Committee. If passed, it could lead to significant capital inflows, product development, and institutional acceptance, potentially driving crypto prices higher.
Bitcoin avoided a weekend drop as $80,000 stayed in place, but traders saw BTC price action dipping below before continuing higher.
Bitcoin traders called a "healthy bullish backtest" as BTC price action kept them guessing over whether $80,000 could be reclaimed.
Bitcoin price action failed to revisit the $83,000 mark after US-Iran war tensions took over to steer the crypto market mood.
Bitcoin price action failed to revisit the $83,000 mark after US-Iran war tensions took over to steer the crypto market mood.
Bitcoin price action risked repeating January's breakdown despite April being poised to offer the best monthly BTC price gains in a year.
Bitcoin price action remained weak as the US-Iran war delivered a Fed meeting that was the "most hawkish in years" and oil neared four-year highs.
Ether (ETH) fell 3.4% to $2,287 on Monday after failing to break the $2,400 level for the fourth time since April 14, forming a triple top pattern. The price trades below the 100-day moving average, with $2.5 billion in liquidation risk concentrated near the $2,150 support zone. Crypto analyst Michaël van de Poppe flagged weakness in ETH/BTC, while open interest dropped to $2.58 billion and funding rate hit -0.013%, the lowest since February, indicating a shorts-heavy setup.
Bitcoin price action sealed its first weekly candle close above a 21-week moving average trend line since it traded near $115,000 in October 2025.
Bitcoin price action has one more week to go until it potentially achieves its biggest month's gains since late 2024.
Bitcoin brought its bull market support band as a key level for BTC price action to reclaim during the weekly candle close.
Bitcoin approached $77,000 on Tuesday, its highest level in ten weeks, as traders identified a potential short squeeze setup with funding rates remaining negative despite price appreciation. Market analysts predict BTC could reach $85,000 within two to three weeks, though bulls must first clear the 21-week trend line resistance that has constrained price since October 2025.
Bitcoin faces critical resistance at $81,000 as geopolitical tensions between the US and Iran resurface, threatening to unwind recent crypto gains. The cryptocurrency held its weekly green candle despite last-minute sellers pushing price below $74,000, with the 21-week EMA at $78,400 serving as immediate resistance. US spot Bitcoin ETFs saw over 25,000 BTC inflows over five days, the largest single-day total since January at $660 million on Friday, though investor cost basis remains above current spot price at $81,000.
Bitcoin saw a green weekly close despite renewed US-Iran war momentum, and a trader forecast that BTC price action would beat last week's local highs.
