Bitcoin is once again knocking on the door of fresh all-time highs as the market braces for a tumultuous macroeconomic week. The cryptocurrency’s price dipped below $107,000 before rebounding above $110,000, sparking anticipation of new records. However, with U.S. inflation data and ongoing bond market challenges in the spotlight, traders are eyeing Bitcoin’s trajectory closely.
A Week of Uncertainty for Bitcoin
The past week has been a rollercoaster for Bitcoin enthusiasts. After a weekend slump, BTC/USD staged a comeback, closing the weekly candle at $109,100—just shy of the January high. This volatility comes as traders grapple with macroeconomic signals. Popular trader Daan Crypto Trades highlighted the need for a stronger close to confirm the potential for further gains, noting the significant ETF inflows that have poured into the market recently. This aligns with recent developments where Bitcoin Traders Eye Breakout to New Highs as Trump Says Tariff Deals Progressing.
Meanwhile, the Federal Reserve’s stance on interest rates remains unchanged, with no cuts expected before September. This, combined with the upcoming release of the Personal Consumption Expenditures (PCE) Index on May 29, keeps investors on edge. The macro backdrop is further complicated by rising bond yields, partially attributed to President Trump’s trade policies.
Exchange Dynamics and Trading Signals
On the exchanges, the taker buy/sell ratio has been a focal point for analysts. CryptoQuant reported a “strong bearish” trend as both buy and sell volumes dwindled, signaling reduced market momentum and heightened uncertainty. This shift in order book activity suggests potential short-term corrections, with the possibility of Bitcoin testing support near $105,000 if bearish pressures mount.
However, not everyone is pessimistic. Some traders, like BitBull, remain optimistic, predicting a potential surge to $155,000, contingent on a sustained breakout. The current structure, they argue, only needs a trigger to propel Bitcoin to new heights, as discussed in Bitcoin price about to ‘blast’ higher as Fed rate cut odds jump to 60%.
High-Stakes Moves by Market Whales
In the world of high-volume trading, all eyes are on Hyperliquid’s James Wynn. Known for his bold moves, Wynn’s recent trading activity has been a talking point. After closing a $125 billion long position at a loss, he quickly pivoted to a short before re-entering with a leveraged long position—just as BTC/USD climbed. His actions, though speculative, underscore the dynamic and unpredictable nature of the current market.
Future Prospects and Market Sentiment
Looking ahead, the funding rates across derivatives platforms remain neutral, reminiscent of the conditions before Bitcoin’s last all-time high in late 2024. This has led some traders to speculate that the market is poised for a significant upward move. Crypto commentator Quinten Francois sees this as a “perfect setup” for Bitcoin to climb higher, while trader Crypto Eagles suggests that the combination of low funding rates and rising open interest might trigger a short squeeze.
As the week unfolds, the market remains on tenterhooks. Will Bitcoin manage to break past its previous highs, or will macroeconomic headwinds stall its ascent? With so many variables in play, the only certainty is that the coming days will be anything but dull for the world’s leading cryptocurrency.
Source
This article is based on: BTC price seeks $155K 'trigger' — 5 Things to know in Bitcoin this week
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
