๐ Why Did Bitcoin Rebound 4%?
Bitcoin ($BTC ) has reclaimed the $81,000 level as expectations for a September Fed rate hike shifted sharply.
Markets had previously priced the probability of a hike above 63%, but that expectation has now moved closer to a coin-flip scenario. The change in rate expectations also pushed Treasury yields lower, supporting broader risk assets and helping BTC recover.
Whatโs becoming increasingly clear is that Bitcoin is no longer driven solely by crypto-native factors such as whale activity, exchange flows, leverage, and on-chain demand.
Macro conditions now play an equally important role. A single comment from a Fed official can quickly reshape rate expectations, move bond yields, and ultimately impact Bitcoin.
๐ Key takeaway:
On-chain data remains crucial, but BTC traders now need to monitor both crypto fundamentals and global macroeconomic conditions.
The market is increasingly becoming a combination of crypto liquidity + Federal Reserve policy + investor risk appetite. ๐
$BTC
#USWeeklyInitialJoblessClaimsRiseTo206000 #US10YearTreasuryYieldHitsHighestSinceNov2023
Bitcoin ($BTC ) has reclaimed the $81,000 level as expectations for a September Fed rate hike shifted sharply.
Markets had previously priced the probability of a hike above 63%, but that expectation has now moved closer to a coin-flip scenario. The change in rate expectations also pushed Treasury yields lower, supporting broader risk assets and helping BTC recover.
Whatโs becoming increasingly clear is that Bitcoin is no longer driven solely by crypto-native factors such as whale activity, exchange flows, leverage, and on-chain demand.
Macro conditions now play an equally important role. A single comment from a Fed official can quickly reshape rate expectations, move bond yields, and ultimately impact Bitcoin.
๐ Key takeaway:
On-chain data remains crucial, but BTC traders now need to monitor both crypto fundamentals and global macroeconomic conditions.
The market is increasingly becoming a combination of crypto liquidity + Federal Reserve policy + investor risk appetite. ๐
$BTC
#USWeeklyInitialJoblessClaimsRiseTo206000 #US10YearTreasuryYieldHitsHighestSinceNov2023
