Today $BTC Drop Yes Guys It Has A BIG Reason And No One Is Talking About It They Are Just Busy Finding Short Setups 😂
Guys, the biggest trigger today is oil. Brent jumped above $101, after renewed tanker attacks around the Strait of Hormuz. That pushed the US 10Y yield to 5.31% and DXY to around 102.1, putting more pressure on risk assets.
Then $BTC rejected $87K again and dropped to around $83.6K-$84K. More than $403M longs were liquidated in one hour, which accelerated the move.
Fed minutes come later today, but for this move I'd rank it: Oil > Yields > DXY > Fed minutes. Fed minutes can still decide the next direction.
But guys, don't blindly short here. A huge drop already happened, recent data is already improving in some areas, and RR isn't as clean anymore. BTC can still drop, but chasing after the move is not safe.
I noticed this late because I haven't covered BTC properly for a few days 😅 So if you're reading this now, you're late like me. Don't chase. Wait for new data ✅ $XRP
Guys, the biggest trigger today is oil. Brent jumped above $101, after renewed tanker attacks around the Strait of Hormuz. That pushed the US 10Y yield to 5.31% and DXY to around 102.1, putting more pressure on risk assets.
Then $BTC rejected $87K again and dropped to around $83.6K-$84K. More than $403M longs were liquidated in one hour, which accelerated the move.
Fed minutes come later today, but for this move I'd rank it: Oil > Yields > DXY > Fed minutes. Fed minutes can still decide the next direction.
But guys, don't blindly short here. A huge drop already happened, recent data is already improving in some areas, and RR isn't as clean anymore. BTC can still drop, but chasing after the move is not safe.
I noticed this late because I haven't covered BTC properly for a few days 😅 So if you're reading this now, you're late like me. Don't chase. Wait for new data ✅ $XRP