After the 18100 support breakout now acting as a resistance, bitcoin has clearly rejected it with a very bearish pin bar indicating the selling pressure from the resistance.
That came as a result of FTX bankruptcy and SBF's arrest, now with Binance FUD things are getting a lot crazy, the largest crypto exchange by volume is experiencing US media pressure causing people to withdraw their money from the CEX and fear FTX scenario.
In a macro perspective, the last fed meeting was so hawkish as economics data is still not indicating a clear inflation decline.
Bitcoin remains bearish just like US stock market until fed cuts interest rate, and this will certainly not happen anytime soon because of what's going on in the world right now.
That came as a result of FTX bankruptcy and SBF's arrest, now with Binance FUD things are getting a lot crazy, the largest crypto exchange by volume is experiencing US media pressure causing people to withdraw their money from the CEX and fear FTX scenario.
In a macro perspective, the last fed meeting was so hawkish as economics data is still not indicating a clear inflation decline.
Bitcoin remains bearish just like US stock market until fed cuts interest rate, and this will certainly not happen anytime soon because of what's going on in the world right now.
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