đ Market Update: $BTC Rejected at $87K and Back to $83K đ
A quick update on what happened this week đ
What happened: BTC failed again at $87K, and spot ETFs saw about $90M in outflows after a strong inflow day đ Early Wednesday, crowded long positions were flushed: roughly $546M in liquidations over 24 hours, about 88% of them longs. Price dropped to around $83K âĄ
The Fed: the FOMC minutes from the September 15-16 meeting were hawkish, as expected đïž All voters backed the hike, and most members see another one as appropriate before year-end. That supported the dollar and Treasury yields.
Gold too: $XAU fell to about $4,100 for the same reason đ„ BTC and gold are not moving because of each other. Both are reacting to the dollar and yields.
Levels I'm watching đŻ
âą $BTC: resistance at $87K, support around $83K
âą $XAU : support at $4,100, then $4,000
#FedMinutesFocusOnOctoberPause #dyor #Fed #fomc
Will BTC hold $83K?
A quick update on what happened this week đ
What happened: BTC failed again at $87K, and spot ETFs saw about $90M in outflows after a strong inflow day đ Early Wednesday, crowded long positions were flushed: roughly $546M in liquidations over 24 hours, about 88% of them longs. Price dropped to around $83K âĄ
The Fed: the FOMC minutes from the September 15-16 meeting were hawkish, as expected đïž All voters backed the hike, and most members see another one as appropriate before year-end. That supported the dollar and Treasury yields.
Gold too: $XAU fell to about $4,100 for the same reason đ„ BTC and gold are not moving because of each other. Both are reacting to the dollar and yields.
Levels I'm watching đŻ
âą $BTC: resistance at $87K, support around $83K
âą $XAU : support at $4,100, then $4,000
#FedMinutesFocusOnOctoberPause #dyor #Fed #fomc
Will BTC hold $83K?
Holds and bounces
46%
â Breaks lower
39%
âïž Range until CPI
15%
13 Votes ⹠Vote fermé