BTC grabbed buy-side liquidity during the Sunday pump. The yellow lines show the highest concentration of potential liquidations so tend to get hit. Now, most of the 7-day liquidity sits below today's price at $66k and $64,500. Combine that with open interest still at late July highs, Bitcoin near resistance, and whales starting to trim longs vs. retail, and you have the perfect recipe for a pullback. This is invalidated in the short term if BTC moves above $70k as QE then is having a greater impact than expected.
So Bitcoin is likely to make a higher low for now before trending higher over the intermediate term from stealth QE and lower rates across most central banks.
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