BTC price dropped below $107,000, reaching a low of $106,800, and then rebounded to a high of $108,133. It is currently fluctuating below $108,000.
Significant liquidation pressure on short positions, concentrated near $110,800, where there is strong liquidation intensity.
The CLARITY Act amendment, which sought to prohibit Donald Trump from profiting from crypto assets, was rejected.
The focus will be on support at $109,000 and $106,000. The current market bull/bear sentiment score is 80 (Bullish).
Strong liquidation pressure on long positions, with concentration near $104,000 and significant liquidation pressure around this level.
Moving forward, focus on macroeconomic data and whether BTC can return above $105,000. If it can, a cautious bullish outlook remains.
The funding rate is a recurring cost, or income, that traders either pay or receive, depending on market conditions.
The slight increase in market share indicates that the market is temporarily avoiding high-risk assets and returning to BTC for risk aversion, placing it in a defensive structure.
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Key news to monitor is the US Federal Reserve's meeting results in mid-June.