Bitcoin Sees Surge in Liquidity Amid Liquidation Wave
- Miner Inflows Hit High: On June 2, Bitcoin miner inflows to Binance reached 24,716 BTC, the highest in four months, surpassing the previous peak of 23,151 BTC from February 5 by 1,565 BTC, indicating a significant increase in miner-linked supply that could impact market liquidity.
- Frequent Liquidation Events: In the past 24 hours, 271,562 traders were liquidated for a total of $1.61 billion, with long positions making up 84% of the total, suggesting that the market is primarily driven by forced liquidations of overleveraged buyers rather than coordinated short selling, reflecting extreme bearish sentiment.
- Oversold Signals Emerge: Bitcoin's relative strength index (RSI) stands at 18.33, marking the most oversold reading of the current cycle, and while oversold conditions can persist, this signal may indicate an impending relief bounce, prompting investors to closely monitor market developments.
- Technical Support Analysis: With Bitcoin currently priced at $63,799, it sits approximately $3,851 above the Fibonacci 1.0 support level at $59,948, and market participants should watch whether the price can close above the resistance level at $64,846 to confirm the direction of future trends.
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Technical Analysis for NEAR
Technical Sentiment Analysis for NEAR Protocol (NEAR). As of , NEAR Protocol (NEAR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for NEAR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, NEAR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
NEAR Protocol (NEAR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.491 | 1.158 | 1.753 | 2.42 | 3.015 | 3.682 | 4.277 |
| Fibonacci | 1.158 | 1.64 | 1.938 | 2.42 | 2.902 | 3.2 | 3.682 |
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