Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’

Bitcoin (

Data from the Binance order book uploaded to Twitter by monitoring resource Material Indicators showed bid liquidity slowly increasing above $28,000.

If you are wondering why yellow is buying #BTC here and brown mega whales haven’t, it’s not likely retail vs smart money. It’s because liquidity between here and $29.1k is so thin that the slippage on a whale sized order would be significant so they are literally forced to make… pic.twitter.com/foZLhWeSuR

— Material Indicators (@MI_Algos) May 4, 2023

As various popular traders demanded higher levels return in order to provide a shot at $30,000 resistance, longer-time takes remained optimistic.

Popular trader and analyst, Rekt Capital, highlighted current spot price levels as the site of an important reclaim operation.

“Last week, BTC Weekly Closed above ~$28800. And this week, $BTC has done quite well to hold it as support, in large part due to the aggressive buying in recent days,” he explained about weekly timeframes.

“Reclaim of the $28800 level is technically in progress.”

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.