Midday note: $BTC pulled back after rising toward around $85,000 last night, and hovered around $82,800 during the Asian session. The market's focus has shifted back to $82,500 support.
This isn't simply “crypto doing its own thing”: Nasdaq futures weakened, and doubts resurfaced about AI spending by tech stocks, cooling risk appetite across the board. With next week's FOMC meeting (10/27–28) approaching, expectations are still that the Fed will hold steady, but uncertainty around fiscal policy and the rate path will continue to amplify volatility.
My view: after a false breakout, the first thing to do is test support—not chase the move up or down. Only if the key zone holds can we start thinking about next week's macro window; if it breaks, short-term risk appetite will contract further.
For discussion purposes only; not investment advice.
$BTC #Bitcoin #FOMC #CryptoMarket
This isn't simply “crypto doing its own thing”: Nasdaq futures weakened, and doubts resurfaced about AI spending by tech stocks, cooling risk appetite across the board. With next week's FOMC meeting (10/27–28) approaching, expectations are still that the Fed will hold steady, but uncertainty around fiscal policy and the rate path will continue to amplify volatility.
My view: after a false breakout, the first thing to do is test support—not chase the move up or down. Only if the key zone holds can we start thinking about next week's macro window; if it breaks, short-term risk appetite will contract further.
For discussion purposes only; not investment advice.
$BTC #Bitcoin #FOMC #CryptoMarket