$BTC Market Update
As expected, Bitcoin experienced a sharp move lower over the past few hours, coinciding with the monthly close.
The latest inflation-related developments from the Jackson Hole Forum were negative for market sentiment and increased expectations around potential rate hikes. If rates remain higher for longer, liquidity could become tighter, which may create further downside pressure across global markets.
From my perspective, Bitcoin could see a strong correction during this month.
$USDT.D is currently showing strength around the 7.10 area, which has historically acted as a potential reaction zone. Previously, I expected a move toward 6.50 after the drop to around 6.77, but that scenario did not play out.
Currently, most traders are still holding their positions, and both long and short setups remain possible.
With U.S. markets currently providing limited liquidity, I believe another distribution move could be possible.
Bitcoin is currently around $77,200. The key levels I’m watching are:
• Holding above $76,000 → potential sideways movement and a rebound.
• Losing $76,000 → risk of a move toward $74,000, which could trigger stronger selling pressure.
Even if Bitcoin experiences a strong weekly correction, I would still consider a rebound possible afterward.
For now, patience and proper risk management are extremely important.
As expected, Bitcoin experienced a sharp move lower over the past few hours, coinciding with the monthly close.
The latest inflation-related developments from the Jackson Hole Forum were negative for market sentiment and increased expectations around potential rate hikes. If rates remain higher for longer, liquidity could become tighter, which may create further downside pressure across global markets.
From my perspective, Bitcoin could see a strong correction during this month.
$USDT.D is currently showing strength around the 7.10 area, which has historically acted as a potential reaction zone. Previously, I expected a move toward 6.50 after the drop to around 6.77, but that scenario did not play out.
Currently, most traders are still holding their positions, and both long and short setups remain possible.
With U.S. markets currently providing limited liquidity, I believe another distribution move could be possible.
Bitcoin is currently around $77,200. The key levels I’m watching are:
• Holding above $76,000 → potential sideways movement and a rebound.
• Losing $76,000 → risk of a move toward $74,000, which could trigger stronger selling pressure.
Even if Bitcoin experiences a strong weekly correction, I would still consider a rebound possible afterward.
For now, patience and proper risk management are extremely important.
