Despite the “all hell breaking loose” feeling in TradFi, bitcoin appears to be doing its own thing. The ties to traditional finance are weak despite yesterday’s move led by the CPI print.
The price remains above $24k today, shaking off the SP500’s -1.84%, and the Bitcoin Risk Signal is edging toward the 25-level threshold.
Bitcoin’s bullish trend is at play as intense momentum fades. Buy walls are piling up between $22-$23.9k, and selling is set to kick in around $25-$27k, forming clear support and resistance levels respectively.
However, order books are thin and tend to become thinner at the end of the week
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