Bitcoin surged past the $66,700 threshold on Monday, registering a robust daily increase that lifted the leading crypto asset into a tighter range near a pivotal technical resistance level.
Price Momentum and Market Metrics
At the time of writing, Bitcoin traded at $66,266, reflecting a 0.7% rise over the previous 24 hours and a 4.8% gain across the last week. The rally pushed the cryptocurrency’s market capitalization to approximately $1.34 trillion, while daily trading volume topped $36.7 billion.
Technical Resistance and Investor Sentiment
The latest advance has nudged Bitcoin closer to a key resistance zone that many traders monitor for potential breakout signals. Despite the upward pressure, investors remain cautious as the Federal Reserve’s upcoming policy decision could reshape market dynamics.
Analyst View on Repeated Monday Declines
Market analyst Linton Worm highlighted a pattern of Bitcoin losing value on each Monday for the past five weeks, citing drops of 4.39% on May 11, 3.15% on May 19, 7.19% on May 26, 20.19% on June 2, and 5.45% on June 9. Worm argues that market makers often elevate prices above weekend ranges before executing a liquidity sweep that triggers subsequent selling pressure.