futures – Page 20 – Blockchain

Bitcoin price rejects at $28K as analysts eye CME futures gap dip

BTC price action sees weakness a day from the May monthly close, with Bitcoin analysts closely monitoring bid liquidity.

After being initially discussed in 2021, the investment fund is now capitalizing on the meme-worthy ticker for its new leveraged Bitcoin ETF.

BTC price falls below the 55-day support level at $27,000, but futures market resilience sparks hope for a recovery toward $28,000.

Bitcoin price giving up ground over the past week to slide below $28,000 has put bears in a better position for Friday’s expiry.

The failed rally above $2,000 on May 6 has proven that ETH bulls are nowhere near comfortable adding leveraged longs.

The total crypto market cap has been ranging sideways, but Bitcoin derivatives markets indicate pro traders don’t expect any major price corrections.