#BitcoinDipsBelow81K
Are you guys in shock? BTC plunged below $81,000, liquidating more than $430 million in long positions! đââď¸đĽ
Why did crypto and stock markets all âlandâ at the same time?
The main culprit: a combination of fears that tensions between the US and Iran could escalate, driving up oil prices and fueling inflation. And now the Fed chair has added fuel to the fire, saying interest rates need to rise further, sending US bond yields to their highest level in 24 years!
Have we hit bottom, or will the decline continue? What are the chances of a reversal?
The former $82,500 support level has now become resistance. Analysts such as Rekt Capital believe BTC is at a crucial technical turning point. According to the FedWatch tool, the chances of a bullish reversal depend 70% on the rate decision scheduled for December. For now, the probability of a short-term reversal is only around 40â50%, until the situation in the Middle East calms down.
What should traders do?
Stay on the sidelines and watchâdonât try to catch a falling knife! This is not financial advice.
#BTCčľ°ĺżĺć #BinanceSquareTalks
$BTC
$OGN
$STRK
Are you guys in shock? BTC plunged below $81,000, liquidating more than $430 million in long positions! đââď¸đĽ
Why did crypto and stock markets all âlandâ at the same time?
The main culprit: a combination of fears that tensions between the US and Iran could escalate, driving up oil prices and fueling inflation. And now the Fed chair has added fuel to the fire, saying interest rates need to rise further, sending US bond yields to their highest level in 24 years!
Have we hit bottom, or will the decline continue? What are the chances of a reversal?
The former $82,500 support level has now become resistance. Analysts such as Rekt Capital believe BTC is at a crucial technical turning point. According to the FedWatch tool, the chances of a bullish reversal depend 70% on the rate decision scheduled for December. For now, the probability of a short-term reversal is only around 40â50%, until the situation in the Middle East calms down.
What should traders do?
Stay on the sidelines and watchâdonât try to catch a falling knife! This is not financial advice.
#BTCčľ°ĺżĺć #BinanceSquareTalks
$BTC
$OGN
$STRK