BTC hovers near $73,500 ahead of monthly close, with US manufacturing PMI data poised to influence risk assets next week.
Bitcoin (BTC) traded near $73,500 on Sunday, positioning itself for a potential 3% decline in May as the monthly candle close approaches. The cryptocurrency has struggled to break above 2025 lows, despite US equities hitting record highs last week.
Analysts highlight $73,000 as a critical support level for the monthly close. US economic data, particularly the May ISM Manufacturing PMI, is expected to drive volatility in risk assets, including BTC. Recent months saw PMI releases provide temporary relief for Bitcoin prices.
Markets remain focused on labor-market indicators, which could dictate near-term sentiment. Geopolitical developments, such as US-Iran ceasefire progress, have had limited impact on BTC’s trajectory.