The BTC/USD price held firmly at $71,000 in early June as analysts predicted a retest of lower levels. Despite a brief drop to $70,120, Bitcoin rebounded and closed the day successfully. Material Indicators pointed out key support levels around $69,000, while the 21-day moving average at $68,800 provided strong technical support. Macroeconomic data, such as unemployment reports, could impact BTC volatility. Exchange selloffs caused concern, but bulls stepped in to prevent further weakness. Traders like Michael van de Poppe believed Bitcoin was poised for a breakout to new all-time highs. Whales were blamed for hindering progress, holding prices artificially low to protect their short positions. Liquidity was focused around $71,900 according to Coinglass data.
![](https://mcrypto.club/wp-content/uploads/2024/06/35d098e7-df29-45c9-9891-7de53ace6a76.webp-850x486.webp)