Hawkish Fed comments and Bitcoin derivatives data point to further BTC downside
BTC and stocks sold-off after comments from the Federal Reserve re-emphasized the Fed’s commitment to lowering high inflation in the United States.
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BTC and stocks sold-off after comments from the Federal Reserve re-emphasized the Fed’s commitment to lowering high inflation in the United States.
Recurring bear flags and the Fed’s telegraphed monetary policy are painting a roadmap for BTC’s future price action.
On August 26, $1.27 billion in ETH options expire and data signals that the price is likely to stay pinned under $2,000 until the Merge.
BTC bulls were liquidated in last week’s drop to $20,800, meaning even more downside could occur if this level fails ahead of this week’s $1 billion options expiry.
BTC’s $335 million options expiry has become a death trap for bulls, and increased legal action by the SEC and IRS against crypto companies is adding to the sell pressure.
Investors have been crafting their strategies for navigating the volatility that could arise as the Ethereum Merge takes place. Here are a few to consider.
Should traders expect further downside after BTC failed to hold above $25,000?
Under the U.S. Commodity Exchange Act and CFTC regulations, derivatives exchanges must have approval to operate as a Designated Contract Market or a Swap Execution Facility.
BTC futures data shows bulls are not sure that Bitcoin price will hold above $24,000, but range-bound action could help them profit from Aug. 12’s $475 million options expiry.
Derivatives data show a clear path to $29,000, but inflation and unemployment data will continue to be crucial to determining BTC price rallies.