Bitcoin Treads Water as U.S.markets Close for Memorial Day
On May 26, Bitcoin held steady as U.S. markets shut down for Memorial Day. The top cryptocurrency, Bitcoin (BTC), remained largely unchanged, despite slight fluctuations. It briefly touched $110,000 but fell back by the end of the day. Trading volumes were low, typical for a holiday session.
Bitcoin’s trading range of about 1.6%, between $108,706 and $110,474, suggests a cautious market. Analyst Aziz Zamani from crypto.news notes that the bullish trend remains strong. Bitcoin has been making higher lows and highs as its low at $91,500. If it holds above $106,500, the bulls are still in control.
Zamani’s analysis points to a potential rise towards $120,000. The current market pause seems like a temporary consolidation rather than a trend reversal.
Macroeconomic news could influence BTC this week. Last weekend, President trump delayed a tariff on EU imports from June 1 to July 9, easing trade war fears. Now, investors await key U.S.data. This includes consumer confidence on Tuesday, GDP on Thursday, and inflation on Friday.
