Bitcoin failed to hold $69,000 over the weekend, with predictions of new macro lows. Traders see a lack of acceptance above $69,000 and anticipate new lows. A rebound was deemed a “relief rally”, with potential targets for BTC price upside. Analysis warns that the BTC price bottom is not in.

BTC price action dropped over $4,000 versus the daily open, leaving traders wary. Experts warn that the 2021 all-time high is turning into resistance. Traders are advised to prioritize capital preservation, as evidence of a market recovery is lacking.

Experts suggest that the $69,000 highs are crucial within the ongoing “relief rally”. Despite a temporary $60,000 gift, lower prices are considered likely before the Bull Market returns. Analysts believe that the worst of the bearish BTC price move is yet to come.

Saturday’s retracement left a potential gap in CME Group’s Bitcoin futures market. The new gap joined another at $84,000, sparking interest among traders eyeing a broader market relief move. Experts question whether the Bitcoin CME gap will be filled next week, with targets set at $75k+.

Analysts predict a correction day followed by a return towards the CME gap and a continuation to $75k+. CEO Samson Mow highlights the importance of the CME gap for financial analysts. Corporate buyers are expected to add BTC to their treasuries at current lows.

Read more at Cointelegraph: Bitcoin Caught Between CME Gaps and New Macro Lows: Analysis