Bitcoin, the flagship cryptocurrency, finds itself at a pivotal juncture as it contends with significant macroeconomic events, including the European Central Bank's (ECB) first interest rate cut in four years, while also eyeing the critical resistance level at $72,000.

As trading commenced on June 6, Bitcoin hovered around the $71,000 mark, with market participants closely monitoring potential liquidity movements. Data from Cointelegraph Markets Pro and TradingView revealed BTC's price action coiling beneath the formidable resistance barrier at $72,000, which stands as the final hurdle before a potential assault on all-time highs.

Macro events on both sides of the Atlantic have bolstered the bullish sentiment within the crypto sphere. The ECB's decision to enact an interest rate cut, coupled with higher-than-expected jobless claims in the United States, has contributed to a favorable environment for Bitcoin bulls.

Analysts and traders alike are scrutinizing bid and ask liquidity on major exchanges like Binance, anticipating potential squeezes and a shakeout of speculative long and short positions before Bitcoin charts its next trajectory.

Daan Crypto Trades, a prominent trader, highlighted the building liquidity on both sides of the market and suggested that Bitcoin might trigger squeezes before selecting a definitive direction.

Meanwhile, Michaël van de Poppe, founder of MNTrading, emphasized the critical importance of Bitcoin maintaining the $70,000 level to sustain its upward momentum and pave the way for a potential rally towards all-time highs.

Longer-term perspectives remain optimistic for Bitcoin and altcoins, buoyed by global fiscal policy loosening. While the U.S. Federal Reserve has not implemented rate cuts this year, the ECB's decision sets a clear precedent, coupled with record global liquidity, which bodes well for further upside potential.

Looking ahead, market participants eagerly await crucial U.S. macroeconomic data releases, including the Consumer Price Index (CPI) print for May, scheduled for June 12. Additionally, the Fed's meeting on the same day will provide insights into potential rate changes, potentially serving as catalysts for Bitcoin's ascent to new highs.

In conclusion, amidst a backdrop of economic turbulence and shifting monetary policies, Bitcoin stands poised to weather the storm, with market participants cautiously optimistic about its upward trajectory in the days ahead.