Bitcoin has maintained a steady position around the $67,000 mark, seemingly unaffected by recent news regarding the Supreme Court ruling against President Donald Trump”s global tariff policy. The cryptocurrency market is showing signs of resilience, but key levels of resistance are in focus for traders.
According to data from Coinglass, a staggering 78,421 traders faced liquidation in the past 24 hours, leading to losses totaling $179.80 million. Moreover, recent figures from SoSoValue reveal that there were net outflows of $165.8 million from spot Bitcoin ETFs and $130.2 million from spot Ethereum ETFs on Thursday. In terms of performance, notable losers in the last 24 hours include Kite, LayerZero, and Morpho.
Traders are keeping a close eye on key resistance levels as they analyze market dynamics. Notably, trader Roman indicated that bulls have approximately eight days left on the monthly chart to push Bitcoin above $74,000. Failing to reclaim this level before the monthly close could lead to a downside target in the range of $50,000 to $52,000. Such a failure might further reinforce bearish momentum as the market transitions into the next month.
In contrast, crypto trader Jelle pointed out that even if Bitcoin lingers below the 50-month moving average and the exponential moving average cluster for several months, the long-term outlook remains positive. He recommends that investors either accumulate at current price levels or wait for deeper pullbacks, emphasizing the risk of being underexposed when the next significant market cycle commences.
Daan Crypto Trades added that there has not been a substantial shift in Bitcoin”s structural dynamics. He advises traders to set key price alerts, place lower bids, and wait for a confirmed breakout. He noted that daily fluctuations of 1% to 2% are not substantial unless one is actively scalping, as the market continues to operate within a range-bound scenario.
As traders navigate through this period of uncertainty, the focus remains on whether Bitcoin can break through critical resistance levels, which will ultimately determine its trajectory in the coming weeks.
