Today's Bitcoin and U.S. stocks are both in a soft state, waiting for a rebound opportunity.
The current financial market is permeated with the main theme of 'consolidation', with Bitcoin$BTC and U.S. stocks both caught in a directionless stalemate. Bitcoin experienced a dramatic drop from 86,000 to 60,000 at the beginning of the month, then rebounded strongly back to 70,000. Currently, it is trading in a range of 67,000 to 71,000. This is not merely a price stagnation, but rather a period of pain for market deleveraging: futures funding rates remain low, and although there have been sporadic buying activities since over $3 billion exited ETFs in January, institutions are no longer chasing higher prices, adopting a cautious stance of 'bullish but not buying' to price risks. On the technical front, the weekly RSI has fallen to an extreme oversold level of 15.9, a ten-year low, and historical experience suggests there is resilience at the lower levels, but it can only be seen as a corrective rebound until it stabilizes above 72,000.
The Fed is hawkish, is Bitcoin softening while waiting for a rebound?
Bitcoin $BTC today (February 12) continues to show weakness, reported at around $67,500, as the market digests the headwinds brought by strong non-farm payroll expectations for rate cuts; there have been no new meetings recently, but Dallas Fed President Logan just delivered a hawkish speech yesterday. 📉 Bitcoin Market Overview Today · Instant Price: Approximately $67,402 - $67,506 (down over 1% intraday). · Liquidation Situation: Over 140,000 people liquidated across the network within 24 hours, totaling $465 million (mainly due to strong long position liquidations). · Key Trigger: Last night, the U.S. added 130,000 non-farm jobs in January (far exceeding the expected 55,000), which directly weakened the Fed's rate cut expectations and triggered a sell-off in risk assets.
Today's Bitcoin and U.S. stocks are both in a soft state, waiting for a rebound opportunity.
The current financial market is permeated with the main theme of 'consolidation', with Bitcoin$BTC and U.S. stocks both caught in a directionless stalemate. Bitcoin experienced a dramatic drop from 86,000 to 60,000 at the beginning of the month, then rebounded strongly back to 70,000. Currently, it is trading in a range of 67,000 to 71,000. This is not merely a price stagnation, but rather a period of pain for market deleveraging: futures funding rates remain low, and although there have been sporadic buying activities since over $3 billion exited ETFs in January, institutions are no longer chasing higher prices, adopting a cautious stance of 'bullish but not buying' to price risks. On the technical front, the weekly RSI has fallen to an extreme oversold level of 15.9, a ten-year low, and historical experience suggests there is resilience at the lower levels, but it can only be seen as a corrective rebound until it stabilizes above 72,000.
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