Bitcoin price gets ‘interesting’ as triple candle close sees $61.5K return

Bitcoin (BTC) upped volatility on June 30 as traders prepared for “interesting” BTC price moves.

BTC/USD 1-hour chart. Source: TradingView

Bitcoin bids at the ready below $60,000

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit intraday highs of $61,668 on Bitstamp.

The pair recovered from local lows of $59,950 the day prior, these marking a fresh dip below the key $60,000 mark amid a feeling of uncertainty over BTC price support.

Now, bids were appearing under spot price with hours to go until the weekly, monthly and quarterly candle close.

“$500M+ in bids were placed below price (but mostly pulled) and open interest going up,” popular trader Daan Crypto Trades wrote in a post on X (formerly Twitter) covering order book liquidity shifts.

“Doubt we’ll get our usual weekend price action as mentioned. Quite a lot of action relatively speaking. End of the quarter usually causes some interesting moves.”BTC/USDT order book data. Source: Daan Crypto Trades/X

The latest data from monitoring resource CoinGlass showed $60,583 as the key downside liquidity level, with a cloud of bids extending toward $59,500.

Liquidity to the upside meanwhile shifted higher as price headed beyond $61,600 on the day.

BTC liquidity heatmap (screenshot). Source: CoinGlass

Despite being down 2.6% week-to-date, meanwhile, Michaël van de Poppe, founder and CEO of trading firm MNTrading, was optimistic about price performance.

“A pretty decent weekly candle for Bitcoin is approaching here,” he told X followers.

“I would expect the correction to be relatively over. We didn’t get the most obvious deep corrections in previous cycles either.”BTC/USD chart. Source: Michaël van de Poppe/X

An accompanying chart put the bottom for BTC/USD during its trip to $56,500 at the start of May.

Q2 performance overall remained weak, however, with Bitcoin down 13.8%, with June responsible for 8.9% losses.

BTC/USD monthly returns (screenshot). Source: CoinGlass

Trader delays $95,000 BTC price bet

Elsewhere, ongoing sluggish performance cost one Bitcoin bull his near-term BTC price target.

Related: Bitcoin miner sell pressure…



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