$BTC Pumped to $78K, But There Is a Reason Behind It... ๐
Btw, did anyone notice how $BTC suddenly started pumping today?
A few hours ago, everyone, even me, was talking about bearish macro, possible rate hikes and another dump. Now BTC is back near $78K, and suddenly the market looks bullish again.
But this move is not completely random.
The current data is supporting the upside. 1D money flow is positive, with total net inflow around +2,230 BTC and large-order inflow around +1,810 BTC. Futures net flow is around +$5.08M, while spot flow is around +$650K. IBIT is also up around 1.5%, so institutional participation is visible.
But don't get too excited yet.
Futures are still leading spot, and CVD/orderbook data is not fully confirming aggressive buying. This could be partly short covering and traders positioning before the upcoming events.
The liquidation heatmap shows upside liquidity around $78.9K-$79.2K, then $79.7K-$80K. If BTC breaks and holds above $79.2K, a squeeze toward $80.3K-$80.5K is possible.
If BTC gets rejected, watch $78K-$77.8K first. Losing that zone could send BTC toward $77.4K-$77K, with deeper liquidity around $76.6K-$76.3K.
Also, the U.S. market has been open for only around 2 hours. There are still several hours left, so a late-session BTC drop is not impossible.
This week is very important: CLARITY Act vote tomorrow and FOMC speech on Wednesday. Today's pump may mainly be pre-positioning, and the actual events will decide whether BTC continues or gives back the move.
So yes, the data supports upside, but don't chase blindly.
Only smart money can play this properly. The rest of us are just watching BTC pump and pretending we knew it was coming. #FedHikeOddsRiseTo89% #FOMCMeeting
Btw, did anyone notice how $BTC suddenly started pumping today?
A few hours ago, everyone, even me, was talking about bearish macro, possible rate hikes and another dump. Now BTC is back near $78K, and suddenly the market looks bullish again.
But this move is not completely random.
The current data is supporting the upside. 1D money flow is positive, with total net inflow around +2,230 BTC and large-order inflow around +1,810 BTC. Futures net flow is around +$5.08M, while spot flow is around +$650K. IBIT is also up around 1.5%, so institutional participation is visible.
But don't get too excited yet.
Futures are still leading spot, and CVD/orderbook data is not fully confirming aggressive buying. This could be partly short covering and traders positioning before the upcoming events.
The liquidation heatmap shows upside liquidity around $78.9K-$79.2K, then $79.7K-$80K. If BTC breaks and holds above $79.2K, a squeeze toward $80.3K-$80.5K is possible.
If BTC gets rejected, watch $78K-$77.8K first. Losing that zone could send BTC toward $77.4K-$77K, with deeper liquidity around $76.6K-$76.3K.
Also, the U.S. market has been open for only around 2 hours. There are still several hours left, so a late-session BTC drop is not impossible.
This week is very important: CLARITY Act vote tomorrow and FOMC speech on Wednesday. Today's pump may mainly be pre-positioning, and the actual events will decide whether BTC continues or gives back the move.
So yes, the data supports upside, but don't chase blindly.
Only smart money can play this properly. The rest of us are just watching BTC pump and pretending we knew it was coming. #FedHikeOddsRiseTo89% #FOMCMeeting
