Bitfinex: $85,900 BTC Resistance May Limit Rebound After $584M Long Liquidations

Bitfinex analysts said bitcoin saw $584 million in long liquidations on Monday as geopolitical headlines and higher U.S. Treasury yields pressured risk assets. BTC opened the week at $77,385, dipped below $77,000, and hit an intraday low of $76,031, with key support flagged around the May Monthly Open at $76,318 and the 30-day accumulator cost basis near $76,500. They added that $85,900 is a major resistance level, while stablecoin market cap rose to $322 billion, up $2 billion over the week.