$BTC 🤔Something strange is happening in the crypto market
Bitcoin absorbed five negative factors at once over the week:
🔴 The CLARITY Act failed in the Senate
🔴 The Fed raised rates
🔴 The Bank of Japan raised rates
🔴 The DXY returned above 100
🔴 Oil is rising
And at the same time, BTC is still above the level from the start of the week.
Something similar happened in 2023: negative news from the SEC, lawsuits against exchanges, ETF delays, and a Fed rate hike, but Bitcoin did not break new lows.
When the market stops reacting to bad news and doesn’t fall, historically this has often happened near the formation of the bottom.
🪤But there’s another version: the market is deliberately creating the feeling that the bottom has already been passed, so that it can then set up a powerful bull trap.#BTCBreaks80K
Bitcoin absorbed five negative factors at once over the week:
🔴 The CLARITY Act failed in the Senate
🔴 The Fed raised rates
🔴 The Bank of Japan raised rates
🔴 The DXY returned above 100
🔴 Oil is rising
And at the same time, BTC is still above the level from the start of the week.
Something similar happened in 2023: negative news from the SEC, lawsuits against exchanges, ETF delays, and a Fed rate hike, but Bitcoin did not break new lows.
When the market stops reacting to bad news and doesn’t fall, historically this has often happened near the formation of the bottom.
🪤But there’s another version: the market is deliberately creating the feeling that the bottom has already been passed, so that it can then set up a powerful bull trap.#BTCBreaks80K