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Key points:<\/strong><\/p>\n Bitcoin rebounds from another support retest, but fears over a Nashville conference-induced comedown are growing.<\/p>\n<\/li>\n The biggest Bitcoin gathering tends to accompany BTC price weakness.<\/p>\n<\/li>\n BTC price action can and will continue to experience drawdowns of 10-20%, analysis stresses.<\/p>\n<\/li>\n<\/ul>\n Bitcoin (BTC<\/a>) circled $110,000 at the May 27 Wall Street open amid concerns over a 30% BTC price crash.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD recovering after its latest support retest around $107,000.<\/p>\n As large-volume traders took advantage of the volatility<\/a>, market commentators turned to potential risk factors, these coming from multiple sources.<\/p>\n Uncertainty over US trade tariffs and the return of Wall Street after the Memorial Day holiday combined with the ghost of BTC price losses from a year ago.<\/p>\n In July 2024, the Bitcoin 2024 Conference in Nashville, Tennessee formed the basis<\/a> for snap downside in early August which took BTC\/USD down 30% from $70,000 to $49,000.<\/p>\n Now, with the same event getting underway for 2025, some wondered whether the market would experience an unwelcome sense of deja-vu.<\/p>\n \u201cThe sustained elevation in near-term vols suggests that traders are positioning around headline risk ahead of the Bitcoin Conference in Las Vegas, scheduled for 27 to 29 May. Focus is already building around the event\u2019s speaker line-up, which includes JD Vance, Michael Saylor, Donald Trump Jr., and Eric Trump,\u201d trading firm QCP Capital wrote in its latest bulletin to Telegram channel subscribers.<\/p>\n \u201cLast July\u2019s Nashville Bitcoin Conference offers a useful analogue. At the time, a keynote by President Trump coincided with a sharp spike in 1-day implied vols above 90, followed by a swift reversal and a nearly 30% decline in BTC within two days. That episode continues to shape market memory.\u201d<\/p><\/blockquote>\n A 30% retracement from current levels would put Bitcoin back at $77,000 \u2014\u00a0around the area in which it set a multimonth bottom<\/a> in April.<\/p>\n Continuing, crypto trader, analyst and entrepreneur Micha\u00ebl van de Poppe reiterated that the drop from $110,000 to the mid-$70,000 range had already happened once before.<\/p>\n \u201cCorrections do happen and they’ll continue to happen,\u201d he told<\/a> X followers on May 26, arguing that a correction of up to 20% \u201cshouldn’t disappoint you.\u201d<\/p>\n As Cointelegraph reported<\/a>, various sources have suggested that the Bitcoin bull market is in its final innings before a protracted trend reversal.<\/p>\n Tackling short-term price action, popular trader Daan Crypto Trades was among those using exchange order book liquidity to identify potential targets.<\/p>\n Related: <\/strong><\/em>BTC price seeks $155K ‘trigger’ \u2014 5 things to know in Bitcoin this week<\/strong><\/em><\/a><\/p>\n \u201cThe longer price hovers around this price region, the thicker the liquidity clusters above and below will become,\u201d he summarized<\/a> on the day alongside data from monitoring resource CoinGlass<\/a>.\u00a0\u00a0<\/p>\n \u201cThere’s a big liquidity cluster down at ~$106K and quite a few sitting from $111K and up. Keep an eye out for when price taps either of this regions as those usually act as a magnet when price is close.\u201d<\/p><\/blockquote>\n CoinGlass itself showed the first chunk of ask liquidity being taken into the start of the US trading session.<\/p>\n This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>","protected":false},"excerpt":{"rendered":" Key points: Bitcoin rebounds from another support retest, but fears over a Nashville conference-induced comedown are growing. The biggest Bitcoin gathering tends to accompany BTC price weakness. BTC price action can and will continue to experience drawdowns of 10-20%, analysis stresses. Bitcoin (BTC) circled $110,000 at the May 27 Wall Street open amid concerns over […]<\/p>\n","protected":false},"author":1,"featured_media":602,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts\/601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=601"}],"version-history":[{"count":0,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts\/601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/media\/602"}],"wp:attachment":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
<\/figcaption><\/figure>\nBitcoin \u201cmarket memory\u201d may recall 2024 crash<\/h2>\n
Liquidity \u201cmagnet\u201d offers $106,000 target<\/h2>\n