$BTC
Over the past 24 hours, these key developments have increased bearish pressure on Bitcoin:
1. Hawkish Fed stance: Recent U.S. Federal Reserve minutes indicated that inflation remains a major concern and that monetary policy may stay tight. This can strengthen the dollar and Treasury yields, putting pressure on risk assets like Bitcoin.
2. Middle East tensions and rising oil prices: Oil prices moved above $100–102 per barrel, increasing inflation concerns. The 10-year U.S. Treasury yield also rose, while the dollar strengthened—an unfavorable combination for crypto.
3. Heavy liquidations: Around $714 million worth of leveraged crypto positions were liquidated in the past 24 hours, adding to selling pressure.
Bottom line: Bitcoin has been trading weakly around $83K. If the $83K support breaks decisively, the ~$80K area could become the next important downside level.
#BTC #FedMinutesFocusOnOctoberPause #USMortgageRatesRiseTo7.49% #BinanceLaunchesBinanceIntelligence #IMFGrantsWaiverForElSalvadorBitcoinBreach
Over the past 24 hours, these key developments have increased bearish pressure on Bitcoin:
1. Hawkish Fed stance: Recent U.S. Federal Reserve minutes indicated that inflation remains a major concern and that monetary policy may stay tight. This can strengthen the dollar and Treasury yields, putting pressure on risk assets like Bitcoin.
2. Middle East tensions and rising oil prices: Oil prices moved above $100–102 per barrel, increasing inflation concerns. The 10-year U.S. Treasury yield also rose, while the dollar strengthened—an unfavorable combination for crypto.
3. Heavy liquidations: Around $714 million worth of leveraged crypto positions were liquidated in the past 24 hours, adding to selling pressure.
Bottom line: Bitcoin has been trading weakly around $83K. If the $83K support breaks decisively, the ~$80K area could become the next important downside level.
#BTC #FedMinutesFocusOnOctoberPause #USMortgageRatesRiseTo7.49% #BinanceLaunchesBinanceIntelligence #IMFGrantsWaiverForElSalvadorBitcoinBreach