Bitcoin experiences its most successful May since 2019 despite a ‘predatory’ 3% dip in BTC price.

Bitcoin (BTC) was traded at $67,500 on June 1, as last-minute price volatility hindered the bulls from reaching a key resistance level. Despite this setback, Bitcoin managed to retain its 11% monthly gains, according to data from Cointelegraph Markets Pro and TradingView. The recovery from weekly lows was overshadowed by concerns over a cryptocurrency exchange hack in Japan and manipulative moves by traders during the monthly close. Even though the Personal Consumption Expenditures (PCE) index in the United States showed inflation slowing down, it failed to significantly improve market sentiment. Bitcoin reversed at around $66,650 during the event, resulting in 11% monthly gains for May. Trading expert Michaël van de Poppe commented that Bitcoin was consolidating well in this range. The recent price volatility was attributed to Bitcoin whales by trading resource Material Indicators. Large-volume traders manipulated liquidity during the monthly close, causing the failed attempt to establish $69,000 as support. The actions of these “killer whales” were described as games that impacted Bitcoin’s price. It is important to note that this article does not provide investment advice and readers should do their own research before making any financial decisions.