Each and every single step that market forms has a reason behind it. Once you have solid reasons then rather than saying “it might happen”, you will start to say “it has to happen”
The bear market probability index is currently at an all-time high, which suggests that the ongoing rally could be considered the biggest bull trap ever witnessed in the history of Bitcoin.
The US interest rate has reached the same level as it was during the onset of the 2008 Financial Crisis market decline. This should be taken into consideration. Despite this, on Twitter, someone claims almost every other day that BTC will reach 100k soon. However, in my opinion, this is complete nonsense. Given the current state of the financial market, it's not ready for a sustained uptrend. Not in 2023 atleast
The market is experiencing a notable increase in fear, likely due to multiple factors simultaneously impacting the market.
Also, if the DXY index maintains its upward momentum, it may exert considerable downward pressure on both the stock and crypto markets. Keep any eye on DXY because Stocks and Crypto is inversely correlated to DXY
Thr price action of bitcoin is kinda bearish and BTC needs to close above 25900 for some price stability 👍🏻 Be ready for CPI and expect volatility Today 😉
Thanks and Stay Tuned ❤️
