The $60,000 ghost haunts #bitcoin
Are we seeing a repeat of the crash or a bear trap?
The crypto market is sounding the alarm.
#BTC has broken through the $73,000 barrier, hitting lows not seen since August, dragged down by disappointing inflation data that have torpedoed macroeconomic expectations. With a Federal Reserve interest rate hike in December practically a foregone conclusion, and influential voices such as Governor Chris Waller suggesting an aggressive 50-basis-point increase, the optimism of late summer has completely evaporated.
Inflation-fighting fever and rising rates: The new macroeconomic data are forcing the #Fed to tighten its monetary stance, triggering a mass flight from risk assets such as cryptocurrencies.
The cursed mirror cycle: The current dynamics are tracing a pattern dangerously similar to that of spring: bullish euphoria that sent Bitcoin close to $85,000 in September, followed by a steep correction that repeats the script of the previous crash.
Are we heading back to $60K? After hitting bottom at $60,000 in both February and June, the market is holding its breath at the real possibility that this key support level will be tested for a third time this year.
#CryptoNews
$BTC
$NVDAB
$BNB
Are we seeing a repeat of the crash or a bear trap?
The crypto market is sounding the alarm.
#BTC has broken through the $73,000 barrier, hitting lows not seen since August, dragged down by disappointing inflation data that have torpedoed macroeconomic expectations. With a Federal Reserve interest rate hike in December practically a foregone conclusion, and influential voices such as Governor Chris Waller suggesting an aggressive 50-basis-point increase, the optimism of late summer has completely evaporated.
Inflation-fighting fever and rising rates: The new macroeconomic data are forcing the #Fed to tighten its monetary stance, triggering a mass flight from risk assets such as cryptocurrencies.
The cursed mirror cycle: The current dynamics are tracing a pattern dangerously similar to that of spring: bullish euphoria that sent Bitcoin close to $85,000 in September, followed by a steep correction that repeats the script of the previous crash.
Are we heading back to $60K? After hitting bottom at $60,000 in both February and June, the market is holding its breath at the real possibility that this key support level will be tested for a third time this year.
#CryptoNews
$BTC
$NVDAB
$BNB
