Journalist
Posted:
Important collection restaurants
Why is the price of BTC today?
BTC challenged the $ 117.5K, but the FOMC rally may lose strength.
Can Bitcoin soon set up an upward trend?
Possibly, but unlikely. September is historically problematic for the bulls, and the liquidity below $ 115k could cause a price dip.
Bitcoin [BTC] Came closer to the local resistance of $ 117.5K after achieving a win of 0.54% for the day on September 18.
The next dayBitcoin again tested the same resistance, but could not climb higher.
In a recent report, Ambcrypto investigated the short -term prospects for Bitcoin. The rising global liquidity implied that some capital flows would be directed to assets, but it went to safer assets. Capital flow to risk assets such as Bitcoin can be limited.
A short -term sale of institutional investors was also a factor that could influence sentiment. These threats can harm the chances of a rally above the local resistance level.
In one Post on X (formerly Twitter)Glassnode, the popular analysis company, emphasized the importance of the level of $ 115.2k for bulls.
Futures -data showed short squeezing and the interest of the options rose to 500k BTC prior to the upcoming options.
A drop under $ 115.2k would threaten a deeper price baptism to $ 105.5k.
Bitcoin can defend the local support, or …
In the days prior to the FOMC meeting, the cumulative volume -Delta (CVD) Bias in the Perpetuals market revealed a remarkable shift. It turned from extreme sales into a more balanced state.
This revealed the return of liquidity, because buy-side flow the sales pressure that has been present since the end of August compensated. It signaled that speculators positioned for a positive policy result.
The data from the liquidation showed that at the time of writing the maximum pain level on a long side was $ 112.7k and the maximum pain level of the short side was $ 121.6k.
The falling exchange supply ratio has painted a more bullish image in the coming weeks.
After the approval of the FED of a rate reduction, the decrease in the exchange rate ratio to 0.02911 meant when investors withdraw their BTC and prepared for HODL.
Although the reduced offer that was available for sale on Binance was an encouraging factor, it does not eliminate the threat of a price baptism under $ 115.2k in search of liquidity.