May 27, 2024

BTC fluctuated around $68,600 (now $68,651) over the weekend. After a brief breakout on Sunday, the price has returned to this key level. Today, it is expected to fluctuate in a narrow range between $69,844.91 and $67,285.40.

Net inflows of about $9.63 billion were recorded from Friday to Sunday. BTC fluctuated around $68,600, briefly breaking out on ETF options news, but returned to this level today. It remains a key battleground with a slight bullish bias above the core support level.

Technicals show that a MACD daily bearish divergence may form. While not yet confirmed, this could signal the risk of a small rebound or stagnation followed by a price correction. Stay cautious!

Key support is at $67,285.40.

55% of daily indicators are bullish, 45% are bearish.

Funding rate is 0.006-0.0144%, showing normalized bullish sentiment.

Futures open interest totaled $341.6 billion, unchanged from last Friday.

The Greed Index was 74, with a turnover rate of 14%.

Overall, BTC continues to fluctuate around $68,651, with a slight bullish bias. Watch out for potential MACD divergences and market reactions. The long-term trend remains bullish, but be cautious and manage positions wisely.

In terms of macro, the US 1-year inflation expectations fell to 3.3% in May, and expectations for a rate cut in September rose to 50.2%. Fed officials remain cautious, with Waller emphasizing that the neutral interest rate may face upward pressure.