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Is the crypto market preparing for the next move by the Federal Reserve: Will inflation data trigger selling?
Following last week's suggestion by Federal Reserve Chairman Jerome Powell that interest rates may be cut by the end of this year, Bitcoin (BTC) bulls have regained momentum.
The Light Greed of the Crypto Market
Coin Carefully: 8.26 bitcoin market analysis, pay attention to the risk of pullback under pressure from above.
Bitcoin oscillated near 64,000 after a wave of highs last week. The bulls made another push to challenge the 65,000 level in the morning and encountered resistance, causing the price to fall back. Currently, a double top pattern has formed at the upper level, indicating a lack of conditions for further rise and posing a risk of decline in the short term.
The bitcoin bull market has just begun, with the potential for profits as high as 10 times for 5 types of cryptos.
BTC is currently consolidating around the 64000 level, with a low of only 63522 over the weekend. Although the TON event has some impact, its impact on BTC is currently minimal.
After the founder of TG was arrested, TON plummeted, potentially leading to a chain reaction, with bitcoin experiencing an '8 wash 9 copy 10 surge'.
After the founder of TG was arrested, TON plummeted, potentially leading to a chain reaction, with bitcoin experiencing an '8 wash 9 copy 10 surge'.
Bitcoin: It is not surprising that BTC has surged to $0.07 million.
Glassnode founders Jan Happel and Yann Allemann believe that bitcoin [BTC] is expected to retest $70,000. The two individuals, known as Negentropic on X, warn that speculators planning to short cryptos at $68,000 or $69,000 may face significant liquidation.