Bitcoin ETF behavior is in focus as BTC price stalls near $65,000.
) circled $65,500 at the April 15 Wall Street open as traders licked their wounds after the weekend BTC price washout.The lack of volatility at the time of writing contrasted firmly with scenes from the weekend in which BTC/USD dropped to near $61,000.
Alan highlighted changing exchange order book liquidity conditions, suggesting that overhead resistance above $70,000 would remain in place until bulls could lure bids closer to current spot price.“Lots of systematic retests this morning, important day I think for crypto market to establish the next phase for direction,” popular trader Skew meanwhile continued.
Skew highlighted the need to preserve exponential moving averages on both 4-hour and daily timeframes. Bitcoin’s relative strength index further needed to return above the central 50 level.Given the drop over the weekend, Skew was among those concerned that investors might vote with their feet on the first trading day of the week.The day meanwhile saw only a modest outflow from the Grayscale Bitcoin Trust , coming in at an estimated 1,600 BTC .
The data, compiled by crypto intelligence firm Arkham, was uploaded to X by popular trader Daan Crypto Trades, who suggested that GBTC flows had become less important as a metric.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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