Market maker Wintermute said Bitcoin fell 2.43% last week, closing lower for the third consecutive week. It broke below the $82,500 support level and tested the $80,000 mark again. If it fails to hold $80,000, the next key support level is $76,000; a decisive break below that could send the price further down into the $70,000 range. If the Federal Reserve takes a hawkish stance, markets may revise their expectations for a rate hike in December, pushing investment yields higher and increasing downward pressure on Bitcoin. If it leaves room for a December decision, that could create conditions for a rebound. If the Fed is dovish but PCE inflation subsequently comes in above expectations, markets may sell off tech stocks amid inflation concerns, dragging Bitcoin down with them. Wintermute stressed that it is not explicitly bearish at this point, but remains cautious until Bitcoin climbs back above $82,500.
Regarding the disclosure that “Bitcoin fell 2.43% last week,” I’m more interested in whether the conditions set out in the original statement can be verified than in simply accepting a bullish or bearish conclusion. This records one party’s explanation and judgment; its views should not be treated as policy changes that have already occurred or as future outcomes.
Going forward, compare each of the observation conditions in the original statement with the actual data. If the conditions do not materialize, or if the market moves contrary to the assumptions, this explanation should be reassessed. Do you agree with the conditions in the original statement, or do you have counterevidence that better explains the market’s movements?
$BTC
#BTC
Regarding the disclosure that “Bitcoin fell 2.43% last week,” I’m more interested in whether the conditions set out in the original statement can be verified than in simply accepting a bullish or bearish conclusion. This records one party’s explanation and judgment; its views should not be treated as policy changes that have already occurred or as future outcomes.
Going forward, compare each of the observation conditions in the original statement with the actual data. If the conditions do not materialize, or if the market moves contrary to the assumptions, this explanation should be reassessed. Do you agree with the conditions in the original statement, or do you have counterevidence that better explains the market’s movements?
$BTC
#BTC