BTC has passed two major tests, and I’m still bullish on this wave.
This morning, BTC first surged to 815,000, then pulled back to around 800,000. The market has just digested two of the biggest short-term risks: the settlement of $6.44B in BTC options, and the end of Waller’s speech.
Waller’s remarks were actually hawkish: he believes that if inflation can’t continue to fall back toward 2%, the Fed will need further action, and the market has further and clearly increased its expectations for a rate hike in September.
But BTC didn’t crash.
A hawkish macro picture + massive derivatives inflows/outflows settling + BTC’s prior explosive rally—price is still holding near $800,000.
This suggests the market’s ability to absorb selling pressure is stronger than it appears on the surface.
Now look at the flows: as of August 27, U.S. spot BTC ETFs have been recording net inflows for 9 straight trading days, with an additional $242.3 million net inflow on a single day. At the same time, the BTC premium has turned positive again, indicating that U.S. spot demand is recovering.
So I’ll continue to be bullish:
For BTC, the most important meaning of $800,000 now is no longer just a “resistance level,” but a battleground to determine whether it can become the new support.
Brothers, as long as BTC can hold above $800,000 next, and gradually reclaim the highs around $815,000, then just go all in—loading up and waiting for liftoff.
$BTC #Is Waller’s nomination—good news or bad news?
This morning, BTC first surged to 815,000, then pulled back to around 800,000. The market has just digested two of the biggest short-term risks: the settlement of $6.44B in BTC options, and the end of Waller’s speech.
Waller’s remarks were actually hawkish: he believes that if inflation can’t continue to fall back toward 2%, the Fed will need further action, and the market has further and clearly increased its expectations for a rate hike in September.
But BTC didn’t crash.
A hawkish macro picture + massive derivatives inflows/outflows settling + BTC’s prior explosive rally—price is still holding near $800,000.
This suggests the market’s ability to absorb selling pressure is stronger than it appears on the surface.
Now look at the flows: as of August 27, U.S. spot BTC ETFs have been recording net inflows for 9 straight trading days, with an additional $242.3 million net inflow on a single day. At the same time, the BTC premium has turned positive again, indicating that U.S. spot demand is recovering.
So I’ll continue to be bullish:
For BTC, the most important meaning of $800,000 now is no longer just a “resistance level,” but a battleground to determine whether it can become the new support.
Brothers, as long as BTC can hold above $800,000 next, and gradually reclaim the highs around $815,000, then just go all in—loading up and waiting for liftoff.
$BTC #Is Waller’s nomination—good news or bad news?
