Despite a last-minute 3% price drop, Bitcoin saw its strongest May performance since 2019, closing the month with an 11% gain. Trading at around $67,500 as June began, Bitcoin faced key resistance but remained resilient despite weekly lows triggered by concerns over a Japanese cryptocurrency exchange hack and potential predatory trader behavior.

U.S. macroeconomic data, particularly the Personal Consumption Expenditures (PCE) index, marginally exceeded expectations and indicated slowing inflation but failed to significantly boost market sentiment. Popular trader Skew attributed price retracements to unwinding ahead of the data release.

Bitcoin rebounded to approximately $66,650, marking a solid close for May. Michaël van de Poppe, founder of MNTrading, noted that markets were gradually preparing for further upward momentum, with $66k being a critical level to maintain.

Material Indicators, a trading intelligence provider, highlighted that Bitcoin whales, or large volume traders, manipulated liquidity until the month's end, causing a failed attempt to secure $69,000 support. Co-founder Keith Alan referred to these actions as "Killer Whale Games," leading to strained support at $67k and insufficient liquidity above $65k. Despite these hurdles, Bitcoin's performance remains strong.