Introduction
Bitcoin is hanging out just around $109,000, after a solid week of action. With Memorial Day weekend upon us, traders are wondering whether thinner trading volume will trigger a fireworks show—or a fizzle. After all, low liquidity and high emotion are the perfect combo for market drama.
Right now, BTC is facing a split personality moment: on one hand, institutional interest is pouring in via ETFs, while on the other, price action looks hesitant and momentum indicators aren’t fully convinced. Will Bitcoin take the elevator up to $115K—or trip on the stairs to $104K?
Big Money’s Back—Spot ETFs Pour in Billions
The suits are showing up again. Between May 17 and 23, Bitcoin spot ETFs racked up $2.75 billion in inflows, according to Farside Investors. That’s 4.5× more than the previous week—and yes, BlackRock’s IBIT is still dominating with an eight-day winning streak of fresh capital.
On the exchange front, Binance is wearing the crown. And It recorded $19.87 million in net inflows over just one hour, with total spot volume hitting $92.84 million. Bybit followed with $42.71 million, while OKX and Kraken trailed behind.
For May as a whole, total ETF inflows now sit at $5.39 billion. Pair that with recent price action that saw BTC hit $111,970 on May 22, and it’s clear that institutional players are back in the game. Even the Crypto Fear & Greed Index has cooled off a bit, dropping from “Extreme Greed” at 78 to a more balanced “Greed” at 66.
Charts, Candles, and Crossovers—BTC Stuck at a Fork
Let’s talk levels. BTC is currently wrestling with the 50-period EMA on the 2-hour chart, sitting right beneath it at $108,315. It’s also resting on a key ascending trendline around $107,000, which just happens to line up with a crucial Fibonacci pivot.
Key numbers to watch:
- Support: $107,074, $105,905, $104,289
- Resistance: $108,315, $109,637
- Signals: Bearish MACD crossover, trendline stress, indecision candles everywhere
If Bitcoin dips below $107K, things could slide toward $104K pretty quickly. But now, there’s a shot at regaining momentum and retesting $109,637 and possibly beyond.
Will the Holiday Spark or Sink the Price?
Holiday weekends are known for catching traders off guard—and Bitcoin doesn’t take time off. With reduced liquidity across exchanges, even modest buying or selling can whip prices around like a theme park ride.
If the ETF inflow train keeps rolling and BTC can shake off its hesitation, Moreover $115K isn’t out of the question. But if the market stays indecisive and volume remains thin, buckle up—because a sharp move in either direction could be coming fast.
So whether you’re watching charts or just watching a BBQ grill this weekend, keep one eye on Bitcoin. It might not stay still for long.
