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Fed decides Wednesday and Bitcoin is sitting right on $80K. Holding or selling before the announcement?
Bitcoin slipped under $80K on Saturday (low around $79.2K) and has been hovering around that line since.
What's weighing on it:
\- Iran tensions pushing oil up, which feeds inflation fears
\- Leveraged long positions getting liquidated on the way down
\- About $773M pulled from Bitcoin ETFs over Thursday and Friday
\- Everyone de-risking before the Fed
The Fed announces its rate decision Wednesday at 2 p.m. ET. Markets mostly expect a hold, but the Fed already hiked in September and a December hike is widely expected. A surprise hike Wednesday would probably hit crypto hard.
Levels people are watching: around $79K support, $78K below that, and $82K to look healthy again.
Not financial advice. What are you doing before Wednesday? Holding, selling, or waiting to buy the dip?
#cryptocurrency
Bitcoin slipped under $80K on Saturday (low around $79.2K) and has been hovering around that line since.
What's weighing on it:
\- Iran tensions pushing oil up, which feeds inflation fears
\- Leveraged long positions getting liquidated on the way down
\- About $773M pulled from Bitcoin ETFs over Thursday and Friday
\- Everyone de-risking before the Fed
The Fed announces its rate decision Wednesday at 2 p.m. ET. Markets mostly expect a hold, but the Fed already hiked in September and a December hike is widely expected. A surprise hike Wednesday would probably hit crypto hard.
Levels people are watching: around $79K support, $78K below that, and $82K to look healthy again.
Not financial advice. What are you doing before Wednesday? Holding, selling, or waiting to buy the dip?
#cryptocurrency
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McRib Is Back, and Crypto Traders Are Watching Bitcoin for the Most Ridiculous Reason
#cryptocurrency
#cryptocurrency
