Yesterday the miners’ defense held the price, generating an intraday support. Today the data is better than yesterday, but downward risks remain.
Breaking up and holding above $19784.57-$19836.37 for 24 hours could release the downward pressure.
ETH fuels the crypto market. If ETH breaks up the long-short status quo of the middle line in the downward channel, it could possibly release BTC from the downward risks.
QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.
The market expected interest rate hike in September: 50bp(24%),75bp(76%)
Breaking up and holding above $19784.57-$19836.37 for 24 hours could release the downward pressure.
ETH fuels the crypto market. If ETH breaks up the long-short status quo of the middle line in the downward channel, it could possibly release BTC from the downward risks. QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.
The market expected interest rate hike in September: 50bp(24%),75bp(76%)
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