Top Bitcoin traders refuse to turn bullish despite BTC’s 14% rebound: Here’s why

💡 DMK Insight

Bitcoin’s recent surge above $72,000 is intriguing, but here’s the kicker: top traders aren’t buying in. While the bounce off $60,000 might suggest a bullish reversal, the reluctance of seasoned traders to open long positions raises red flags. This could indicate a lack of confidence in sustaining these levels, especially if we consider broader market sentiment and potential resistance around $75,000. If Bitcoin fails to hold above $72,000, we might see a quick retracement, which could trigger stop-loss orders and amplify selling pressure. Keep an eye on the trading volume; a lack of strong buying interest could lead to a bearish divergence. On the flip side, if Bitcoin manages to consolidate above $72,000 with increased volume, it could attract more retail interest, potentially pushing prices higher. Watch for key support at $70,000 and resistance at $75,000. If we see a breakout with volume, that could signal a more sustained rally. But for now, the hesitation from top traders is worth noting as a cautionary signal.