BTC breaches $80K ahead of Fed week, but BNB is a rare bright spot 👀
$BTC is currently around $79,800, down about 1.6% in 24 hours and nearly 4% for the week. For the first time since August, BTC has fallen below the 50-day moving average (MA50).
Why is the market in the red?
• The Fed is meeting this week. The likelihood of keeping interest rates high is high, but the market fears the Fed might hint at a rate hike in December.
• Oil prices hit a new high due to US-Iran tensions, bringing back inflation concerns.
• Spot BTC ETFs saw net outflows of approximately $773 million in two days.
• The sentiment index is only 43, its lowest in nearly three months.
$ETH is weaker, losing nearly 3% to around $2,310.
And what about $BNB?
BNB is around $738, down slightly for the day but is one of the few major coins still in the green for the week. Reasons:
• The 37th quarter automatic burning just removed over 1.64 million BNB from circulation.
• High market volatility has increased trading volume on Binance.
• Resistance zone to watch: $745 - $750. Breaking through this zone gives BNB a chance to break out.
My perspective:
This week is not the time to go all-in. I prioritize holding cash, limiting leverage, and waiting for the market's reaction after the Fed. If BTC recovers to $80K - $81,500, the trend may stabilize. While waiting, BNB is the coin I'm monitoring most closely.
And you, are you accumulating, staying out, or shorting this week? Comment below 👇
#BTC #BNB #Fed #CryptoMarket #WriteToEarn
This post is for sharing purposes only and is not investment advice. DYOR.$BNB
