Bitcoin hovers around $28k with the price action pressured toward resistance. At the moment, it seems that the market has placed its bets for what’s to come - a 25bps hike most likely.
Where do we stand? We have a more presumed lenient Fed, worries over global banks collapsing, and liquidity expectations. Bitcoin has outperformed since the 50bps hike was taken off the table, closely mimicking gold and deviating from equities.
As said above, the price action seems eager to make the next move. Bitcoin has ticked upward, fighting to convert the $28.2k resistance level into support despite the flattening CVD. The bullish trend continues to push the price higher, yet we need momentum to spark.
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