$BTC A big part of the move was fueled by shorts getting squeezed no doubt.
Since that initial high on Friday, actual accumulation has been pretty stable and spot volumes have been relatively high.
Open interest has trended down still and there doesn't seem much interest in someone willing to lift price at this area.
If we keep seeing (ETF) spot inflows and price hanging around this same area, that would be a signal worth watching in the next days.
The shorts have been squeezed, so you need strong spot bid to keep the party going. There has been spot bid, but price needs to keep following through too or the momentum stalls.
$ETH Strong close at the April highs and the highest weekly close in ~7 months.
Now sitting right at the Weekly 200MA & EMA which will be important to watch.
Bitcoin did break above those already, as they were a lot lower relatively.
Good area to watch here for ETH. You wouldn't want to see a strong rejection below ~$2.3K for more than a wick. Then this would turn into a liquidity sweep & rejection and it could drop back to the bull market support band at that point.
Think any quick leverage flushes/wicks down could be good opportunities also to bid strong alts this or next week. Will see what we get as always.