Bitcoin (BTC) passed $70,000 at the June 3 Wall Street open as upside after the prior daily close continued.
BTC/USD 1-hour chart. Source: TradingView
BTC price: Key resistance hurdle remains $69,000
Data from Cointelegraph Markets Pro and TradingView showed the day’s BTC price upside nearing 4%.
Bulls began the week with a fresh bid to flip $69,000 — the site of Bitcoin’s old 2021 all-time high and a key psychological level — back to firm support.
Analyzing the current landscape on exchange order books, popular trader Skew noted a price premium in place on perpetual swaps.
“Spot market still in control here, pay close attention around $70K,” he wrote in part of a post on X (formerly Twitter).
“Would like to see continued decline in perp premium towards more of a spot premium.”Bitcoin order book data. Source: Skew/X
The latest data from monitoring resource CoinGlass showed BTC/USD eating into overhead liquidity above $70,000, with little nearby resistance remaining at the time of writing.
“The $66K & $72K levels remain important from a liquidity perspective. Eyes on those levels,” fellow trader and commentator Daan Crypto Trades responded to the data.
BTC liquidation heatmap (screenshot). Source: CoinGlass
Bitcoin’s relatively brisk gains meanwhile sparked fresh calls for a return to price discovery.
Nearly three months after hitting its latest all-time highs, BTC/USD now has a target of $100,000, trader Kaleo insists.
“It’s time for round 2,” he told X followers on the day alongside a chart showing the run to the highs and subsequent consolidation phase.
“$100K is a magnet.”BTC/USDT chart. Source: Kaleo/X
Ethereum ETF buoys crypto market mood
Equally optimistic, trading firm QCP Capital saw favorable market conditions enduring for both Bitcoin and altcoins.
Related: A BTC price breakout ‘never seen before’ — 5 things to know in Bitcoin this week
Crypto as a whole, it argued in its latest market update sent to Telegram channel subscribers, would benefit from the final go-ahead and launch of spot Ether (ETH) exchange-traded funds (ETFs) in the United States.
The landmark event is expected…
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