Key Takeaways:
Bitcoin long traders lost $584 million in a single Monday session, the largest long wipe-out since early February.Bitfinex analysts place BTC’s critical support at the May Monthly Open of $76,318, aligning with the 30-day accumulator cohort cost basis near $76,500. Stablecoin market cap reached $322 billion, adding $2 billion in a week, signaling dry powder available for a potential push above $80,000.Brent crude settled between $110 and $112 per barrel as shipping through the Strait of Hormuz effectively halted. The U.S. 10-year Treasury yield climbed to a 16-month high of 4.7%, repricing duration-sensitive assets lower across the board.
The immediate support level is anchored by the 30-day accumulator cohort, whose cost basis sits near $76,500. Bitfinex analysts said this aligns closely with the May Monthly Open of $76,318, and they expect the zone to hold as a short-term floor.
In derivatives, the short squeeze fuel from prior sessions has been exhausted, and recent long buyers have been cleared out. Any directional move will likely require spot market activity rather than futures positioning to lead the way.
