Key points:
Bitcoin attacks liquidity clustered close to spot price into the weekly close.
Market commentators eye significant BTC price levels below $95,000.
The Fed’s upcoming interest rate decision is the key macro event to watch next week.
Bitcoin (BTC) fell toward $95,000 into the May 4 weekly close as traders braced for more macro-induced downside.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
BTC price liquidations mount after 10-week highs
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating from multimonth highs toward the May open.
Hitting liquidity clustered around spot price, Bitcoin created a recipe for volatility as market participants discussed key levels.
“Dense longs cluster 95.7k-96k, heavy shorts 96.5k-97k right around current price (~96.2k),” popular trader TheKingfisher wrote in part of ongoing analysis on X.
“These are price magnets. Expect chop/volatility as they get tested.”BTC liquidation heatmap. Source: