Bulls launched a futures market-driven attack on BTC’s $110,000 resistance level as US markets are closed for Memorial Day. Will spot volumes follow on Tuesday?
Bitcoin (BTC) price staged a mild recovery over the weekend, but gains above $110,000 are being capped by selling. Data from Glassnode shows “net distribution” (selling) from the cohort holding more than ten thousand Bitcoin, but cohorts below this level have continued to accumulate.
The spot and futures cumulative volume delta at Binance exchange reflect persistent selling when BTC price approaches the $110,000 level.
The Sunday (May 25) futures-market driven surge back to $110,000, following US President Donald Trump’s announcement that EU Commision President Ursula von der Leyen had contacted him, suggesting a roughly one-month extension to delay the 50% EU tariffs which were slated to start on June 1.
