The point we are at is so critical for #Bitcoin and #Altcoins! that, friends, in case of a possible support loss, we will see a red candle exceeding 20%.
Altcoins have been falling continuously for weeks, and if Bitcoin loses its trend, it will turn into a bloodbath.
As I said yesterday, if critical supports do not hold after this much decline, let's close the shop and move on. Today - Tomorrow bounce should come and walk +80K$ a. #Binance #USDT #BNB
Friends, the reason for the decline in#Bitcoinis the market model on the Binance exchange, friends, because when we look at the spot side, we see that the spot purchases on the Coinbase side are increasing and there are sales on the Binance exchange.
Separately, when we look at the number of open transactions on the futures side on the Binance exchange, there was a significant increase in volume between 18:00-19:00 and the opened transactions were mainly short transactions. Picture
My friends, the FED kept the#interestrate constant Powell will speak soon at 21:30
According to the statements from the FED, they want to see data that will sustainably reduce inflation towards their 2% target for#interestrate cuts.
Probably#Powellwill repeat the same things, but the market's expectation is to reduce 25 bps twice by the end of the year, once in September and once in December.
When we look at the details of the increases in #Bitcoin , long transactions opened both in spot purchases and on the forward side had an impact.
When we look at the details, we see that both long transactions and spot purchases opened on the spot and futures side are made on the Binance side.
On the Coinbase side, the acceleration I expected has not yet arrived, there are purchases, but there have been small increases. I expect an increase in demand for spot Bitcoin ETFs when the US stock markets open at 16:30 because there was an outflow of $ 220.31M yesterday due to panic sales.
If dear Powell does not make a surprise after the FED#interestrate decision, the#cryptocurrencymarket will maintain its upward momentum. $BNB $BTC $ETH #btc #Binance #Bitcoin #USDT
Inflation data was very good on both monthly and annual basis. Especially the fact that it was below expectations added extra positivity. We also see its reflections on the#cryptocurrencymarkets.
US Inflation Data Announced
USA - Consumer Price Index (CPI) (Annual) Previous: 3.4% Expectation: 3.4% Announced: 3.3%
USA - Core Consumer Price Index (CPI) (Annual) Previous: 3.6% Expectation: 3.5% Announced: 3.4%
Friends, the data we will follow today is as follows:
US Consumer Price Index Will Be Announced at 1️⃣15:30 2️⃣FED Interest Rate Decision Will Be Announced at 21:00 3️⃣Powell will give a speech at 21:30
Let's Go Step by Step❗️
👉US Consumer Price Index If the inflation data to be announced at 15:30 comes within or below expectations, it will have a positive impact on the markets.
🟢It would be better especially if we see data below expectations, because the possibility of the FED lowering interest rates twice during the year may increase or expectations of interest rate cuts may be moved earlier.
👉 FED Interest Rate Decision The FED interest rate decision will be announced at 21:00 and expectations are that the interest rate will be kept constant, which is also my expectation.
🟢 It is a very low probability, but if the FED goes to cut interest rates, it will have serious positive effects.
👉 Powell Will Speech Powell will give a speech at 21:30. What we want here is for him not to make harsh speeches.
🟢 By harsh speech, we mean clear speeches that there will be no interest rate reduction this year.