$BTC is trading around $92,994. After successfully capitalizing on the recent drop (as discussed 2 days ago in my livestream), it's time to assess if this rebound is genuine strength or just a fleeting relief rally.
The Bitcoin Dominance Factor
As I mentioned yesterday: a key support in $BTC cannot be treated the same way as a support in a low-cap coin like $ZEC. Why? Dominance and Capital.
Strong green candles alone don't confirm anything a priori. Consolidating support in BTC is complicated, requiring massive capital stability, not just volume spikes.
👀 The Key Change: Institutional Confidence
However, there is a factor that has shifted the bearish outlook from a few days ago to cautiously bullish: Institutional Confidence.
Current data indicates that several institutional holders are in positive territory.
This suggests their possible exit will not happen as long as BTC continues to rise.
If this holds, it implies more investment from institutions—the only true way to consolidate a firm support in BTC and signal a real, sustained recovery. Whale Capital is Key. 🐳💲✍️
⚠️ The Final Hurdle: Powell's Speech
Beyond the technical framework—which is still far from a true recovery—one key factor will determine our immediate direction: Mr. Powell's Speech and the pending decision on interest rate cuts.
Rate Cut \rightarrow Bullish: If the Fed cuts rates, it injects liquidity, which is historically bullish for risk assets like Bitcoin.
No Cut \rightarrow Bearish: If rates are held steady, the ground will be cleared for SHORTs, as macro uncertainty takes over.
🎯 Trading The Volatility
Meanwhile, it is more than obvious that we will take full advantage of the next big move, whether it's up or down!
Just like I told you yesterday, keep a close watch on $SUI. It is one of the altcoins that benefits the most from sharp rises and falls in BTC, offering great opportunities to capitalize on volatility.
$SUIUSDT is already moving sharply: 1.6777 (+5.52%)
In short: LONGS dominate for the moment, but the final verdict rests with the macro data. Stay nimble!
