Bitcoin held $76k after the Fed hike, but don't call it resilience. Call it a standoff.
Futures sellers dumped $82M in BTC perps post-announcement. Spot buyers absorbed $15.5M. One side is wrong.
The market priced in today's 25bp hike. It's ignoring 16 of 18 Fed officials see another one this year. Perps trade the next move; spot trades the last.
Our read: spot is providing exit liquidity. The entire hold rests on the 50-period EMA at $76,353. Lose that, sellers take control.
$BTC
We post through the day, every day. Follow if this is useful.
Futures sellers dumped $82M in BTC perps post-announcement. Spot buyers absorbed $15.5M. One side is wrong.
The market priced in today's 25bp hike. It's ignoring 16 of 18 Fed officials see another one this year. Perps trade the next move; spot trades the last.
Our read: spot is providing exit liquidity. The entire hold rests on the 50-period EMA at $76,353. Lose that, sellers take control.
$BTC
We post through the day, every day. Follow if this is useful.
