Bitcoin caught between CME gaps and potential new macro lows

Bitcoin failed to hold $69,000 as the weekend began, slipping more than $4,000 versus the daily open and with the 2021 all-time high increasingly acting as resistance. Traders remained cautious; Keith Alan, cofounder of trading resource Material Indicators, warned: "TLDR: The $BTC bottom, is not in.

My priority right now is capital preservation." He added, "If you're thinking, ‘We're so back,’ we're not. There is literally no evidence of that yet," and called the recent move a "relief rally," saying "$60k was a gift yesterday, but there's a high probability that lower is likely before the Bull Market returns." Looking at the bigger picture, analyst Rekt Capital said peaks in the post-halving bull market tend to produce a multi-month relief rally from the macro triangle base before breaking down into "Bearish Acceleration." He noted this is the fourth consecutive cycle that this historical tendency has continued and suggested there may be more downside to come.