Key points:

• The price of bitcoins has dropped by 2.7% in the last 24 hours to USD 105.00 in the midst of investors’ needy demand.

• The decrease in Bitcoin on May 30 caused over $ 210 million in BTC liquids.

• The Besidowa discrepancy from RSI signals a reduction in stubborn shoot.

The price of Bitcoin (BTC) has dropped by over 2.70% in the last 24 hours to USD 105 150 as fears about the progress of American commercial talks arose. His daily commercial volume increased by 20% to $ 60 billion, which suggests that sales side activity is intensifying.

Further bitcoins prices for a decrease in demand

Bitcoin’s bards on May 30 are preceded by a reduction in the demand for assets after its course to the highest all time above USD 111,000.

Some of the Bitcoin demand indicators could “achieve a short -term top, which can mean pause in the current rally,” Cryptoquant Cryptoquant said in his latest weekly cryptographic report.

According to the report, a 30-day escalate in demand of Bitcoin reached 229,000 BTC on May 28, near the previous summit in demand of 279,000 BTC, which means the peak of the market in December 2024.

In addition, Bitcoin balances kept in whale addresses have increased by 2.8% over the past month. This pace was historically preceded by a slowdown in a whale accumulation, which suggests reducing the demand of huge investors.

This reduction of demand is strengthened by significant outflows from ETF Bitcoin, which accompanied the bear displayed by BTC in the last 24 hours.

On May 29, at ETF in BTC, he recorded a huge 358.65 million dollars in drains, ending the 10-day inflow series.

High outflows from point ETF Bitcoin after a long inflow series indicate the shift of interest among institutional investors, increasing pressure after sales.

Over $ 210 million in long BTC positions liquidated

BTC decline on May 29 is accompanied by significant liquidation on the derivative market, signaling the mighty bear pressure.

Over 211.21 million dollars of long Bitcoin positions have been liquidated in the last 24 hours, compared to $ 10.8 million in tiny liquidations. Over $ 114 million BTC has been liquidated in the last 12 hours, compared to just $ 5 million in tiny positions.

Partly Traders are forced to close the position when long positions are liquidated. Over the past 24 hours, over $ 680 million in leveled positions have been liquidated in cryptocurrency assets.

The scale of these liquidations reflects the period from April 5 to April 6, when it cleaned a total amount of $ 280 million in BTC positions, in the company of a 8.5% drop in price in the same period.

Related: Bitcoin Bull Market “Great Validator” appears when James Wynn loses $ 100 million

Besidcoin Batcoin’s Besidengence

Today, the decrease in Bitcoin precedes the period of growing bear between its price and the relative strength indicator (RSI).

The daily chart below shows that the BTC/USD pair increased between May 5 and May 28, creating higher low. But at the same time his daily RSI fell from 76 to 54, creating lower minima, as shown in the daily chart below.

The discrepancy between rising prices and the falling RSI usually indicates the weakness of the prevailing growth, which prompts traders to sell more on local ups, because profits are built, and exhaustion of the buyer’s exhaustion.

The above chart also reveals the area of ​​stiff resistance at the top, preventing BTC efforts about growth. It is a congestion zone of the supplier between USD 106,000 and the highest level above USD 111,000. The emphasis on the overall area suppresses the Bitcoin price.

A popular cryptographic analyst WOO observed a similar discrepancy appearing during the week and he said That if Bitcoin does not accumulate in the next two days, the price may fall deeper.

According to Cointelegraph, Bitcoin is in a “healthy break”, which could consolidate at USD 106,000 before introducing a fresh trend up, which can reach from 220,000 to USD 330,000.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.