Bitcoin touches $30K as ex-BitMEX CEO hopes $25K marks BTC price 'local bottom' Bitcoin bulls are not giving up without a fight in the current range, while data increases the significance of May's $23,800 floor.

0x993cea86b8a626993d457905fbaea85feb83ad4d@newsletter.paragraph.com (Untitled) — Sat, 04 Jun 2022 13:19:41 GMT

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

"Crucial breaker rejecting" on Bitcoin

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to local highs of $30,182 on Bitstamp after wicking down to near $29,300 overnight.

Amid testing times for equities, Bitcoin followed in giving up recent gains, with Cointelegraph contributor Michaël van de Poppe insisting that $29,000 needed to hold to avoid more serious retracement.

"Cascade further south for Bitcoin towards the level that caused the breakout," he summarized on the day.

"Resistances above us are $30.5K and $31.5K. Let's see how it goes, has to hold $29.2–$29.3K to avoid any massive breakdowns."

A subsequent tweet highlighted what Van de Poppe described as an intraday "crucial breaker" level acting as resistance.