#BTC #CPIWatch Bitcoin is taking a beating from the headlines, but the price is telling a different story. đ
While the Nasdaq has reportedly dropped 6% in the last 10 days, BTC is still holding above $80,000 despite a wave of negative news.
High CPI. Hot PPI. Quantum FUD. US government sale concerns. MSCI uncertainty. Even the memory-stock sell-off.
The market has thrown plenty at Bitcoin, yet buyers haven't given up the $80K level.
We saw a similar situation around $62K, when fear was everywhere and traders were expecting more downside. Bitcoin eventually rallied another $25,000.
Could we be watching the same kind of resilience build again?
Here's the level I'm watching closely.
If BTC loses $80K, the $75Kâ$76K zone becomes critical, with the 50-week moving average in focus.
Bitcoin is showing relative strength, but the next move will depend on whether buyers can keep defending key support.
Trade Now đ
$TSLAB
$XAU
#BitcoinShortTermHoldersReach4.08MBTC #OctoberFedHikeOddsFallToAround17% #NEARRisesNearly10%
While the Nasdaq has reportedly dropped 6% in the last 10 days, BTC is still holding above $80,000 despite a wave of negative news.
High CPI. Hot PPI. Quantum FUD. US government sale concerns. MSCI uncertainty. Even the memory-stock sell-off.
The market has thrown plenty at Bitcoin, yet buyers haven't given up the $80K level.
We saw a similar situation around $62K, when fear was everywhere and traders were expecting more downside. Bitcoin eventually rallied another $25,000.
Could we be watching the same kind of resilience build again?
Here's the level I'm watching closely.
If BTC loses $80K, the $75Kâ$76K zone becomes critical, with the 50-week moving average in focus.
Bitcoin is showing relative strength, but the next move will depend on whether buyers can keep defending key support.
Trade Now đ
$TSLAB
$XAU
#BitcoinShortTermHoldersReach4.08MBTC #OctoberFedHikeOddsFallToAround17% #NEARRisesNearly10%