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$60.4K Becomes ‘most important area:’ Five things to know in Bitcoin this week

$60.4K Becomes ‘most important area:’ Five things to know in Bitcoin this week

Bitcoin (BTC) starts the second week of June near two-week highs with traders keen to see bullish continuation.

Key points:

  • BTC price action targets nearby liquidity as a trader names the “most important” support zone to hold next.
  • US stock-market performance gives analysis reason to believe that the good times will continue amid “record” retail risk appetite.
  • A stock-market correction is not out of the question, new warnings conclude, but Bitcoin should have already priced in the fallout.
  • Exchange inflow data reveals cooling panic among both retail and whale investors.
  • Crypto market sentiment is at monthly highs, on the cusp of exiting “extreme fear.”

Bitcoin key support emerges as bulls eye $64,000

Bitcoin kept up pressure on short positions into the weekly close, hitting $63,960 — its highest levels since June 23, per data from TradingView.

BTCUSD four-hour chart. Source: Cointelegraph/TradingView

Total crypto short liquidations for the 24 hours to the time of writing were just over $100 million, CoinGlass reports.

BTCUSD vs. crypto liquidation history (screenshot). Source: CoinGlass

Commenting on low time frames, X account Exitpump was among those attributing the moves to liquidity hunts.

“Seeing aggressive selling from spot markets, spot CVD (yellow) trending down while perps CVD (blue) is flat,” they reported on Monday, referring to cumulative volume delta on exchange order books.

BTCUSD chart with order-book data. Source: Exitpump/X

In the event of a reversal downward, trader Killa called the zone between $60,400 and $60,900 Bitcoin’s “most important.”

“If we cannot hold this price region on a revisit, I’m afraid we are going to trend directly to the lows again. Something to watch out for next week,” the analyst told X followers.

BTCUSD chart. Source: Killa/X

As Cointelegraph continues to report, market participants still see Bitcoin’s bear-market low as yet to come — despite a growing number of bullish trend reversal signals.

Trader Roman, who was long bearish on BTCUSD, stayed optimistic on longer time frames this week.

“Still looking excellent to continue our reversal to see higher prices in the interim,” an X post read.

“I still have a feeling we put in one more macro low before the bottom is officially in, but there are dozens of macro reversal signs all over HTF.”

BTCUSDT one-week chart. Source: Roman/X

Retail risk appetite hits record levels

Bitcoin’s waning ability to copy equities is under the microscope this week as US stock futures start higher after the holiday weekend.

While BTCUSD managed a trip to near two-week highs, Nasdaq 100 futures added 1% as analysts remain bullish on the broader US outlook.

“Although the S&P 500 is coming off a hot second quarter with a 15% gain, the index topped in early June and has yet to make a new high,” trading resource Mosaic Asset Company wrote in the latest edition of its regular newsletter, The Market Mosaic.

“But the S&P 500 trading within a bullish continuation pattern and has been finding support at a key level.”

S&P 500 market data. Source: Mosaic Asset Company

Mosaic added that the average stock “has been rallying to new record highs.”

“That includes the equal-weight S&P 500, small-cap stocks with the Russell 2000 Index, and the NYSE advance/decline line. New highs minus new lows across major exchanges are jumping higher as well,” it noted.

As Cointelegraph reported, recent US inflation and labor-market data helped soften markets’ hawkish expectations for Federal Reserve policy last week.

The latest data from CME Group’s FedWatch Tool sees the Fed holding interest rates at current levels in both July and September.

Fed target rate probabilities (screenshot). Source: CME Group

Another potential macro tailwind for Bitcoin comes in the form of retail investor demand for risk — despite the cohort’s crypto exodus this year. Analyzing options data, trading resource The Kobeissi Letter described retail risk appetite as being “at record levels.”

“Retail demand for short-term options has never been higher,” it reported on X.

This week, the Fed will release the minutes of its June meeting, where it likewise kept rates steady. Markets will also react to Purchasing Managers Index (PMI) numbers, along with more employment data releases.

“We expect another volatile week ahead as markets brace for earnings season,” Kobeissi added.

Warning over pre-Midterm stock market correction

Looking ahead, not all market participants are convinced that the persistent stocks bull market will last. Among them is Andre Dragosch, European head of research at crypto asset manager Bitwise.

“What if there is a bigger stock market correction right before the Midterms?” he queried in X posts on Monday, referring to upcoming US elections.

Dragosch flagged the latest data from the MacroQuant Equity Risk Model by macro analytics company BCA Research. This, he warned, was “flashing a bear market warning signal.”

An accompanying chart likened current readings to those last seen in late 2021, when Bitcoin saw the top of its previous bull market.

Source: Andre Dragosch/X

In an extended X post last week, Dragosch nonetheless reasoned that crypto markets had already priced in much of the worst-case scenario that could hit macro in the future: a stock market comedown and a US recession.

“In other words, even if a AI crash and a subsequent US recession materialized, much of that pain appears to be already reflected in Bitcoin prices, which points to reduced downside from here,” he summarized.

Dragosch gave Bitcoin a “decent chance” of outperforming the Nasdaq “on a relative basis over the coming months.”

Whales lead exchange inflow drop

New data reveals that Bitcoin investors cooled selling significantly in the second half of June — even as price set new multi-year lows.

In a QuickTake blog post, onchain analytics platform CryptoQuant confirmed that inflows to exchanges had decreased from both retail and whale investors alike.

“Bitcoin whale activity on Binance has cooled sharply since mid-June, with the rolling 30-day value of whale inflows falling by nearly $2.4 billion,” contributor Amr Taha confirmed.

Retail investor inflows displayed a shallower rate of decline, falling from $10.02 billion on June 12 to $8.2 billion on July 6.

“Whale inflows fell at nearly twice the rate of retail inflows, reducing the relative role of large holders in exchange-bound Bitcoin supply. Meanwhile, the gap between retail and whale inflows widened from about $2.98 billion to $3.55 billion,” Taha continued.

Bitcoin whale exchange flows to Binance (screenshot). Source: CryptoQuant

Earlier, Cointelegraph reported on whales’ overall market conviction improving around the lows.

CryptoQuant notes that exchange inflows are not an infallible signal of investors’ intent to sell.

“The key question now is whether Binance whale inflows stabilize around the current $4.65 billion level or continue moving lower,” Taha concluded.

“A further decline would reinforce the view that large Bitcoin holders are becoming less active on the exchange compared with the retail cohort.”

Crypto market fear “easing, not gone”

Bitcoin’s modest recovery was enough to boost crypto market sentiment considerably this week.

The latest readings from the Crypto Fear & Greed Index show that aggregate sentiment is on the verge of exiting “extreme fear” for the first time in over a month.

Fear & Greed measured 24/100 on Monday, more than double its score at the start of July.

“That’s a clear improvement from recent lows. But the market is still in Extreme Fear,” trader Master of Crypto responded on X.

“Fear is easing, not gone.”

Crypto Fear & Greed Index (screenshot). Source: Alternative.me

As a lagging indicator, Fear & Greed tends to mirror existing shifts in market behavior post factum. While the Index is calculated based on a basket of factors, it lacks the ability to predict future trend continuation.

In his latest analysis published this week, commentator and blockchain advisor Anndy Lian argued that Bitcoin bulls needed to back up their optimism with tangible price moves.

“A successful breakout above that US$65,000 threshold would open the door to a broader test of the 100-day moving average, which currently hovers near US$69,500,” he wrote.

“Conversely, failing to sustain the current momentum carries severe downside risks.”

 

Source: https://www.tradingview.com/news/cointelegraph:da7fd60e3094b:0-60-4k-becomes-most-important-area-five-things-to-know-in-bitcoin-this-week/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Why crypto, stocks, and gold all moved together this week

Why crypto, stocks, and gold all moved together this week

The crypto market just delivered a compelling signal that regulatory clarity remains the most potent catalyst for digital asset valuation. Over the past 24 hours, the total market capitalisation climbed 3.49 per cent to reach US$2.36 trillion. This move was not random noise.

It reflected a coordinated response to a specific policy development. The anticipation surrounding the Clarity Act, which sources indicate President Trump confirmed as ready for signing in March, removed a significant regulatory overhang that has constrained institutional participation. This development matters because it addresses the fundamental uncertainty that has kept many traditional capital allocators on the sidelines. When policy frameworks become predictable, risk assessments shift, and capital follows.

The correlation data reinforces this interpretation. Crypto currently shows a 66 per cent correlation with the S&P 500 and a 53 per cent correlation with Gold. These numbers tell a story of assets moving in tandem under shared macroeconomic pressures rather than isolated speculative fervour. When liquidity conditions improve and geopolitical tensions ease, as they did following comments suggesting the Iran conflict could be resolved soon, capital rotates across risk assets simultaneously. This synchronised movement suggests that the crypto rally is part of a broader reflation trade rather than a disconnected digital-asset phenomenon. For observers who understand that decentralised systems thrive under clear rules rather than ambiguous enforcement, this regulatory progress represents a structural improvement in the market’s foundation.

Institutional accumulation provided the secondary engine for this advance. Michael Saylor’s Strategy acquired 17,994 BTC valued at US$1.28 billion while Tom Lee’s BitMine secured 60,976 ETH. These were not reactive trades. They represented strategic treasury deployments by entities that view digital assets as long-term balance sheet components. When sophisticated buyers treat market weakness as an opportunity to accumulate, they establish a price floor that technical analysts can identify and retail participants can trust. This behaviour contrasts sharply with the speculative churn that characterised earlier market cycles. Today’s institutional participants conduct rigorous due diligence, assess regulatory trajectories, and execute with multi-quarter time horizons. Their presence changes market dynamics by reducing volatility and increasing the credibility of price discovery.

The technical picture supports a constructive near-term outlook. The market cap currently tests the 38.2 per cent Fibonacci retracement level at US$2.36 trillion. The next bullish target sits in the US$2.4 trillion to US$2.46 trillion zone, which corresponds to the 23.6 per cent retracement and recent swing highs. Momentum indicators provide additional context. The 7-day RSI reads 53, which indicates room for further upside without entering overbought territory. Traders must watch the US$2.33 trillion level, representing the 50 per cent Fibonacci support. A failure to hold this zone on any pullback could signal a retest of recent lows. Technical levels matter because they represent the collective psychology of market participants. When price respects these levels, it reinforces confidence in the prevailing trend. When it breaks them, it forces a reassessment of the underlying narrative.

The broader equity market context provides an essential perspective. Major US indices staged a dramatic late session recovery as geopolitical tensions appeared to ease. The S&P 500 finished up 0.83 per cent at 6,795.99 after reversing earlier intraday losses. The Nasdaq Composite led the rebound with a 1.38 per cent gain to 22,695.95, boosted by technology shares. The Dow Jones Industrial Average rose 0.50 per cent to close at 47,740.80.

Notable movers included NVIDIA, which climbed 2.30 per cent to US$181.98, Apple, which rose 0.77 per cent to US$259.45, and Tesla, which ended up 0.32 per cent at US$398.00. This equity strength was not isolated. It coincided with a sharp reversal in energy markets. WTI crude fell as much as 10 per cent on Tuesday after surging near US$120 a barrel on Monday. The 10-year Treasury yield halted its 5-day climb, settling near 4.10 per cent as inflation fears sparked by high oil prices moderated. G7 finance ministers expressing readiness to release strategic oil reserves further cooled energy prices and supported the equity rebound.

This macro backdrop matters for crypto because digital assets no longer trade in a vacuum. They respond to the same liquidity signals, shifts in risk sentiment, and policy expectations that drive traditional markets. The upcoming US CPI data on March 11 will test the strength of these correlations. If inflation prints come in cooler than expected, the relief rally could extend across all risk assets. If they surprise to the upside, the narrative could shift quickly. Market participants who understand this interconnectedness position themselves accordingly. They watch Treasury yields, oil prices, and geopolitical headlines with the same attention they give to on-chain metrics and exchange flows.

This moment highlights a critical evolution in how markets price regulatory risk. For years, the crypto sector operated under a cloud of enforcement uncertainty that discouraged institutional participation and distorted price discovery. The potential signing of the Clarity Act represents more than a policy update. It signals a maturation of the regulatory approach that recognises the distinct characteristics of decentralised systems. Traditional financial tests were designed for centralised entities with clear control structures. Applying them to permissionless networks creates friction that stifles innovation without enhancing investor protection. A framework that acknowledges this distinction allows capital to flow to its most productive uses while maintaining appropriate safeguards.

The path forward contains both opportunity and caution. If the Clarity Act milestone is reached, the rally could extend toward the US$2.4 trillion to US$2.46 trillion resistance zone. This move would reflect not just speculative enthusiasm but a fundamental reassessment of risk premia for digital assets. Markets rarely move in straight lines. Profit taking at key technical levels or unexpected macro data could trigger a pullback. The US$2.33 trillion support level becomes critical in that scenario. Holding above it would indicate underlying strength. Breaking below it would suggest the rally lacked conviction.

Looking beyond the immediate price action, this episode reinforces a broader thesis. The convergence of regulatory clarity, institutional adoption, and macro liquidity creates a powerful foundation for sustainable growth in digital asset markets. This is not about short-term trading opportunities. It is about the gradual integration of decentralised financial infrastructure into the global economy. Participants who understand this long-term trajectory position themselves to benefit from the structural shifts underway.

 

Source: https://e27.co/why-crypto-stocks-and-gold-all-moved-together-this-week-20260310/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

What Bitcoin’s US$70,000 support zone means for traders after this week’s volatility

What Bitcoin’s US$70,000 support zone means for traders after this week’s volatility

The cryptocurrency market just witnessed a powerful reminder of how leverage and sentiment can collide to create violent price moves. A sharp Bitcoin-led rally forced over-leveraged short sellers to cover, triggering around US$471 million in crypto derivatives liquidations across major exchanges within 24 hours. About US$471 million of futures positions were wiped out, with roughly US$348 million from shorts and US$123 million from longs as BTC pushed toward US$74,000.

This was not random noise. It was a classic short squeeze, fuelled by crowded bearish positioning, negative funding, rising open interest, and strong ETF inflows into BTC and ETH. I have seen this pattern repeat across cycles, and each iteration teaches the same lesson. When leverage builds on one side of the market, the reversal does not just correct the price; it resets positioning with force.

The scale of the flush matters because it reveals where the real risk lives. Data from derivatives trackers shows roughly US$471 million in crypto futures liquidations over 24 hours, with shorts taking the majority of the hit at about US$348 million versus US$123 million in longs, as Bitcoin and Ethereum ripped higher toward key resistance near US$74,000. This pattern matches reporting that a BTC surge to the mid-70,000s erased over US$500 million in leveraged positions, with the largest daily wipeout of shorts since late February in some samples.

The pain concentrated in major coins such as Bitcoin, Ethereum, and other large caps, where leverage runs deepest. That tells us the move was big enough to reset a lot of leveraged positioning, not just a minor intraday shakeout. When the largest shorts get squeezed in the most liquid names, the signal travels fast through the entire derivatives complex.

Behind the numbers sat a textbook setup. After recent macro and geopolitical volatility, many traders rebuilt short exposure, with funding rates turning negative and open interest climbing as BTC dipped into the mid-60,000s. When spot prices reversed higher amid renewed ETF inflows and easing macro fears, exchanges’ risk engines began liquidating underwater shorts into a rising market, forcing additional buy orders and accelerating the upside.

Similar dynamics played out on ETH, where more than US$100 million in shorts were liquidated in a day, compared with a much smaller amount of long liquidations. Bears leaning too hard into downside with high leverage can turn into forced buyers, amplifying rallies beyond what spot demand alone would justify. I view this as a structural feature of modern crypto markets, not a bug. Derivatives and ETF flows now act as powerful amplifiers, and anyone trading without watching funding rates and open interest is flying blind.

This squeeze did not happen in isolation. Global markets on 6 March 2026 were dominated by risk-off sentiment as the conflict among the US, Israel, and Iran drove a broad retreat in risk assets. While US stock futures showed some stability early in the day, Asian and European equities fell sharply, heading toward their steepest weekly losses in years. US major indices closed lower on Thursday due to soaring oil prices and geopolitical fears. The Dow Jones dropped 784.67 points to close at 47,954.74. The S&P 500 declined 0.56 per cent to 6,830.71. The Nasdaq Composite slipped 0.26 per cent to 22,748.99.

Overseas, the MSCI Asia Pacific Index fell 1.1 per cent on Friday, marking its worst week in six years. Japan’s Nikkei 225 fell 0.66 per cent to 54,915 points. In Europe, major indices such as the FTSE 100, DAX, and CAC 40 declined by 1.5 per cent to 1.6 per cent amid ongoing energy disruption fears. Oil prices anchored the move, with WTI crude surging above US$80 per barrel following reports of an Iranian strike on an oil tanker and the closure of the Strait of Hormuz. Rising energy and labour costs fuelled fears that the Federal Reserve would maintain high interest rates to combat sticky inflation.

The US Dollar gained as a safe-haven, heading for its best week since 2024. Gold prices remained volatile, briefly hitting US$5,400 earlier in the week before settling near US$5,100 by Thursday. Investors awaited the US Non-Farm Payrolls and Retail Sales reports for February to gauge the health of the labour market. In that backdrop, Bitcoin’s initial surge toward US$74,000 stood out as a sharp counter-trend move before macro gravity reasserted itself.

Post-event, derivatives metrics suggest that some excess leverage on the short side has been cleared, with funding rates normalising and open interest stabilising slightly lower. Order book data still shows dense liquidity zones both above and below the current price, and prior episodes suggest that traders are quick to re-leverage once volatility cools.

For risk monitoring, the key signals are funding rates, especially if they flip extreme again, sharp jumps in open interest, and any renewed surge in ETF flows that could interact with crowded futures positioning. The immediate squeeze may be over, but this remains a high-leverage environment where sudden price moves and positioning shifts can still trigger large, fast liquidation cascades. I watch these signals closely because they often telegraph the next inflection before price confirms it.

Bitcoin now trades down 1.72 per cent to US$71,244.79 over the past 24 hours, underperforming a slightly weaker broader market, primarily driven by a risk-off shift amid escalating Middle East tensions. It shows a strong correlation of 0.86 with Gold, indicating a shared macro-driven move. The primary reason remains geopolitical risk from the US-Iran conflict, which spiked oil prices and triggered a flight from risk assets.

A secondary factor was technical rejection at the key US$74,000 resistance level, where selling pressure overwhelmed buyers. Near-term, if BTC holds above the US$70,000 to US$71,000 whale bid zone, it could retest US$74,000. A break below risks a move toward US$67,500. I see this range as the battlefield where macro narrative and derivatives positioning will duel for control.

What should readers take from this sequence?

  • First, the reported US$471 million liquidation wave resulted from an aggressive short buildup caught offside by a strong Bitcoin-led rebound, not from a structural failure in the market. It has cleared some speculative froth, and derivatives activity and ETF flows remain powerful amplifiers, so future positioning extremes could again translate into abrupt squeezes rather than smooth trend moves.
  • Second, in a world where oil can jump above US$80 on geopolitical headlines, and equities can post their worst week in years, crypto will continue to mirror macro risk while retaining its own leverage-driven volatility.
  • Third, independent analysis matters more than ever. Crowded narratives can flip fast when funding rates turn, open interest spikes, or ETF flows accelerate. I prefer to track the plumbing, not just the price.

With all that said, I expect volatility to remain elevated as markets digest geopolitical shocks, inflation data, and the ongoing tug-of-war between risk-on and risk-off flows. Bitcoin’s correlation with Gold at 0.86 reminds us that macro drivers can dominate in the short term, even for an asset built on decentralisation. The derivatives layer adds a crypto-native amplifier that can exaggerate moves in either direction. If funding rates flip extreme again or open interest jumps while price consolidates, prepare for another squeeze. 

 

Source: https://e27.co/what-bitcoins-us70000-support-zone-means-for-traders-after-this-weeks-volatility-20260306/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j