Why Bitcoin withdrawals to the risk of $ 100,000 despite macro optimism star-news.press/wp

Main meals

BTC lost $ 110,000 and you must defend 108 thousand dollars to boost the upward trend. But will you hold on to the potential September rate?

On August 29, Bitcoin (BTC) Support is estimated at $ 110,000 and decreased to less to 108 thousand dollars, which raised its withdrawal to 13 % of the last peak of 124 thousand dollars.

The extended decline follows a broader sale, seen across American stock markets as well, the next Inflation data in July.

However, the correction was within the 30 % range that was seen in the previous bull markets. But Crypto Twitter flooded the “Market Top” calls.

Meanwhile, macro analysts remained optimistic, which made BTC’s look complicated. So what is the next for Bitcoin after the last drop?

Drawing mid -time risk

One of the best callers in the course was Ali Martinez, who quote The relative strength index diverges on price plans and price procedures that reflect the peak of market 2021.

Failure to keep more than $ 108.7 thousand can put the road for further decline.

“The upper part of the Bitcoin may be, at least temporarily. The bullish state requires main health: $ 108,700 carrying as support. The golden cross returns to the appearance of the MVRV MOMENTUM index.”

Source: x

In fact, Ambrypto created the frightening similarity to the 2021 cycle peak (white line) to the current traction.

In fact, if the correlation remains positive, BTC can decline and come out about $ 70,000.

Source: BTC/Usdt, Tradingview

The basis of the cost on the chain in the focus

Data on the series also indicate a risk if BTC cracked less than $ 108,000.

According to Glassnode DataThe level of the short -term cost can work as support or resistance.

In the past, a break below sparked distress and constant weakness. Of course, this BTC scenario can withdraw less than $ 100,000.

“The registry shows that trading without the basis of the cost of short -term holders (about 108.9 thousand dollars) precedes multiple bears. If support is breaks, the statistical band indicates the average range near 93 thousand dollars to 95 thousand dollars.”

Source: Glassnode

Macro wind that is still intact?

On the total front, the US Treasury can drain from the public liquidity in dollars and the origins of stress risks in the next few weeks, according to analysts.

Meanwhile, the market consensus to reduce the interest rate of 25 bits per second in September price discounts was about 90 %.

Swiss AnalystsHowever, he argued that the average federal reserve policy could affect BTC more than 2021.

In fact, even Jp Morgan expected BTC can reach $ 126,000 by the end of the year.

Depending on the expected cuts at the Federal Reserve rate, Alex Krager He said The course was far from the end and the running can extend to 2026.

“Even if we go from here, I feel very confident that this is not the end of the session.”

In general, the technical techniques of historical prices and data on the series, it was clear that the risk of distress sales in the short term if BTC lost 108 thousand dollars. However, the total scene was still positive in the middle of the period.