BTC broke the key support last Friday. We mentioned last week the possibility of a lower consolidation range if the recovery is failed.
Currently, BTC is testing the final bullish support, which is crucial to the sustainability of the upward movement. However, sustaining the movement around this level range requires a strong bullish spring to break up resistances, otherwise, bulls could lose their momentum. Breaking down this support will the price drop deeper.
QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.
The market expected interest rate hike in September: 50bp(39%),75bp(61%)
Currently, BTC is testing the final bullish support, which is crucial to the sustainability of the upward movement. However, sustaining the movement around this level range requires a strong bullish spring to break up resistances, otherwise, bulls could lose their momentum. Breaking down this support will the price drop deeper.
QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.
The market expected interest rate hike in September: 50bp(39%),75bp(61%)