Bitcoin hit 67K then pulled back to 65.7K: bull trap or just a reset before the next move?
I find tonight's market pretty interesting. Cointelegraph reported that BTC once surged past 67K due to geopolitical news, but when I checked Binance, BTCUSDT was hovering around 65,694 USDT at 23:48 UTC, down nearly 0.9% in 24h. In other words, the buying pressure is still there, but not strong enough to call it a sustainable breakout.
What’s worth noting is that BTC
dominance remains at 56.28%, while ETH dominance is around 9.25%. This gives me the impression that the flow of funds is still prioritizing BTC over altcoins. If you’re waiting for an “alt season” to explode across the board, you might need some more confirmation.
For futures traders, price levels like this are prone to getting whipsawed. Good news pushes prices up, but with thin liquidity, the market can revert quickly. I don’t like chasing prices just because of a pretty headline. If you’re trading short-term, it’s better to have a clear invalidation point and reduce size when the US session is volatile.
For spot trading, I lean towards scaling in rather than going all-in right away. BTC is the strongest asset in the market, but strong doesn’t mean blindly buying. Timing your entries at the right levels is still more important than buying out of fear of missing the boat.
SL/TP reference: SL 64,709;
TP1 67,008;
TP2 68,191.
If it were you, would you be looking to spot, trade futures, or sit on the sidelines waiting for BTC to confirm the 67K area again?
#BTC #Bitcoin #Futures #crypto $BTC
I find tonight's market pretty interesting. Cointelegraph reported that BTC once surged past 67K due to geopolitical news, but when I checked Binance, BTCUSDT was hovering around 65,694 USDT at 23:48 UTC, down nearly 0.9% in 24h. In other words, the buying pressure is still there, but not strong enough to call it a sustainable breakout.
What’s worth noting is that BTC
dominance remains at 56.28%, while ETH dominance is around 9.25%. This gives me the impression that the flow of funds is still prioritizing BTC over altcoins. If you’re waiting for an “alt season” to explode across the board, you might need some more confirmation.
For futures traders, price levels like this are prone to getting whipsawed. Good news pushes prices up, but with thin liquidity, the market can revert quickly. I don’t like chasing prices just because of a pretty headline. If you’re trading short-term, it’s better to have a clear invalidation point and reduce size when the US session is volatile.
For spot trading, I lean towards scaling in rather than going all-in right away. BTC is the strongest asset in the market, but strong doesn’t mean blindly buying. Timing your entries at the right levels is still more important than buying out of fear of missing the boat.
SL/TP reference: SL 64,709;
TP1 67,008;
TP2 68,191.
If it were you, would you be looking to spot, trade futures, or sit on the sidelines waiting for BTC to confirm the 67K area again?
#BTC #Bitcoin #Futures #crypto $BTC