Amidst growing fears of stagflation in the US, inflation data is due to be released, including the Fed's "preferred" rate
Gold looks set to hit another all-time high, and the U. S. dollar will turn around after weeks of declines.
#Bitcoin implied volatility has fallen to a
#rare all-time high.
Bitcoin's implied volatility has fallen to a rare all-time high.
Analysts warn of trouble ahead as market sentiment worsens and network activity declines.
Bitcoin is poised to hit a new record high, according to Cointelegraph As data from Markets
#Pro and TradingView shows, bitcoin has hovered in a narrow range since the Bybit hack last week, spoiling an attempted breakout.
However, the current liquidity situation in the order books of exchanges also shows that there is potential for a new breakout for both bulls and bears, CrypNuevo trader wrote in the February 23 thread X about his forecast for the coming week.
Probably more to the upside given that prices are in a LTF downtrend; $94.7k and $92.5k levels are key;
Another trader, Roman, is less optimistic and expects a return to the lower end of the multi-month trading range
attempts at growth have failed many times already, and there is not enough strength, he told subscribers.
Support at 90,000 seems to be approaching; a break of 98.4 and a close above it would invalidate it. The range is very narrow, so expect a quick move.
Meanwhile, on the weekly timeframe, trader Luca foresaw an upcoming test of bitcoin's bullish support
#band .
This area, formed by two moving averages, is where BTC/USD has been acting as support since early October, when it reached an all-time high of
$BTC Luca suggested that bitcoin is poised to rise again amid low interest rates, deteriorating sentiment and shrinking private investors.
US inflation indicators are putting pressure on risk assets, and markets are expecting the "last piece of the puzzle" this week.
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