Bitcoin bulls start Memorial Day blitz on $110K — Will spot follow when US markets open?

Bitcoin (BTC) terms staged a mild betterment implicit the weekend, but gains supra $110,000 are being capped by selling. Data from Glassnode shows “net distribution” (selling) from the cohort holding much than 10 1000 Bitcoin, but cohorts beneath this level person continued to accumulate. 

Trend accumulation score. Source: X / Glassnode

The spot and futures cumulative measurement delta astatine Binance speech bespeak persistent selling erstwhile BTC terms approaches the $110,000 level.

BTC/USDT 4-hour illustration CVD (spot and futures). Source: TRDR.io 

The Sunday (May 25) futures-market driven surge backmost to $110,000, pursuing US President Donald Trump’s announcement that EU Commision President Ursula von der Leyen had contacted him, suggesting a astir one-month hold to hold the 50% EU tariffs which were slated to commencement connected June 1.

President Donald Trump. Truth Social

Compared to past week’s data, backing rates person cooled, particularly astatine Hyperliquid (orange line), wherever trader James Wynn alternated betwixt a $1.2 cardinal 40x agelong presumption and a $500 cardinal leveraged abbreviated position, some of which are present closed. 

Bitcoin backing rates astatine exchanges. Source: Velo

In presumption of taking retired the absorption seen astatine $110,000, flows could perchance stay suppressed arsenic US markets are closed for the Memorial Day holiday, truthful the regular unfastened marketplace request seen by the spot Bitcoin ETFs, which accounted for $8.36 cardinal successful BTC purchasing since the commencement of April, are paused for the day. 

Spot Bitcoin ETF netflows. Source: SoSoValue 

Liquidation heatmap information crypto analytics level TheKingfisher shows borderline traders are overweight connected the agelong side, with the imaginable for liquidations starting beneath $109,000 to $107,000. 

Bitcoin short-term liquidation representation data: Source: X / TheKingfisher

On the different hand, CoinGlass information hints that a BTC terms propulsion done the $110,000 absorption could trigger a abbreviated liquidation that could rapidly effect successful a rally to $114,000.

CoinGlass BTC/USD liquidation map: Source: CoinGlass

In presumption of the purely technical-focused terms outlook for the week, traders are apt watching today’s terms enactment to spot if immoderate futures and spot CEX marketplace upside is followed by bullish travel into the March 27 equities and TradFi crypto markets open. 

Related: BTC terms seeks $155K 'trigger' — 5 things to cognize successful Bitcoin this week

As things presently stand, a artifact of asks tin beryllium seen astatine $114,000 and $119,000 astatine Coinbase Pro, portion bids commencement astatine $104,000 and intensify arsenic the terms draws person to $102,000-$100,000.

BTC/USD Coinbase 4-hour chart. Source: TRDR.io

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.