Bitcoin's May slump continues with key levels to watch.

Bitcoin's price slid below $27,000, erasing its weekend gains and filling a gap in CME futures outstanding since the weekend trip higher. Traders are divided on the direction of BTC/USD, with some predicting a breakout to $30,000, while others remain risk-off until a clearer direction becomes apparent. Bitcoin's price finished May down 7%, and the largest cryptocurrency is 5.5% lower in Q2, contrasting Q1 gains of over 70%. Downside support levels are tied to key moving averages (MAs), including $26,250, $26,000, and $23,035 for the 200-week, 20-week, and 200-day MAs, respectively.