Bitcoin pivotal in the middle of weekend range

Last weekend was a record breaking one for Bitcoin as it lifted a new all time high above 61k. Well, this weekend it has been the opposite with the price falling back after failing to sustain a move back above 60k last week. The importance of these weekend price swings was highlighted again here last week and as noted; this is mostly due to less liquidity and market participation. Of course it could also have much to do with the price action in the week that preceded it. The previous week saw a build up in short positions, so it would make sense for someone might try and stop those out over the following weekend. The opposite of course applies too, if the previous week saw a build up of long positions. That sure looks like it was the case last week, judging by the price action this weekend and the price failure near 60k again. The inference for this explanation lends itself to the discussion of synthetic trades, as those will be the most likely to be leveraged. That also implies tighter stops in the market place too. Bitcoin has traded in a range so far covered this weekend by 55k to 60k. It is currently trading at 57,625