On May 19, Bitcoin (BTC) traded below $27,000 due to large-volume trades. Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD hit a low of $26,380 on Bitstamp, followed by a modest recovery. However, increasing market expectations of an interest rate hike by the United States Federal Reserve in June put pressure on prices. Traders focused on potential bearish targets, with some waiting for BTC to break above $27,500 or close below $26,600 before making a trade. Material Indicators showed owners of bid and ask liquidity placing trades to manipulate BTC price behavior on short timeframes, while Decentrader argued that a shift is required for price to have a chance at reclaiming higher levels.
Bitcoin price retests key support as Fed rate hike fears steal $27K
