Bitcoin may still be trading above $60,000, but network fundamentals are already showing the strain as BTC price gains fail to materialize.
Bitcoin (BTC) threatened a $61,000 breakdown on May 9 as familiar trendlines got a fresh support test.
Data from Cointelegraph Markets Pro and TradingView followed BTC price moves as it slowly ground lower to erase a week’s upside.
While taking order book liquidity via low-timeframe volatility, BTC/USD lacked upside impetus overall, and now, the 100-day simple moving average (SMA) and short-term holder realized price (STH-RP) were back on the radar.