Why stocks may send Bitcoin price back to $50K before October
Bitcoin and SPX share a high correlation index as the U.S. stock approaches a new all-time high a day before the Fed cuts interest rates.
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Bitcoin and SPX share a high correlation index as the U.S. stock approaches a new all-time high a day before the Fed cuts interest rates.
Glassnode data highlights a “notable decline in trade activity over the last quarter,” but traders are hopeful that Q4 will bring a sharp trend reversal.
Bitcoin could experience more downward pressure leading up to the Sept. 18 US interest rate cut. Will it fall below $50,000 this weekend?
Ether price must still overcome the key $2,700 resistance before positioning for a breakout above $3,000 in Q4 2024.
Bitcoin’s technical setup and onchain data hint at a short upside recovery in the making.
Bitcoin could see a breakout to new all-time highs as soon as next month, but BTC must first tackle significant resistance around $59,500.
Bitcoin’s response to the CPI report was surprisingly muted.
The last time this whale address bought the dip, was just before Ether rose from $2,100 to $3,100.
Bitcoin still faces significant resistance at $62,000, and if it breaks, it would liquidate over $845 million of leveraged shorts.
Ether could see a significant amount of sell pressure unlock at 8:00 p.m., despite ETH fractals pointing at an imminent breakout.
