During the night, India and Pakistan exchanged missile strikes, and Pakistan shot down one or several Indian planes.
Nevertheless, both futures on American indices and crypto are going up, Bitcoin briefly exceeded 97700 during the night.
Why is that?
Firstly, the markets currently do not believe in a major war between India and Pakistan, expecting it to remain at the level of exchanges of strikes, similar to Iran with Israel in 2024.
Secondly, stock markets reacted positively to the news of U.S. Treasury Secretary Bessent's meeting with Chinese representatives in Switzerland to discuss a trade deal.
Thirdly, market crowd representatives started shorting Bitcoin on the news of mutual missile strikes between India and Pakistan. And they were punished. They forgot that shorting Bitcoin in the current economic situation is as unnatural as same-sex marriage.
Thus, we currently see Bitcoin around 96500, market capitalization at 2.94 trillion, with a dominance index of 65.18%.
Altcoins are not participating in the rise, remaining at previous levels, hence such growth in Bitcoin's dominance.
The crypto market has once again approached an important capitalization level of 3 trillion.
If today, following the Fed meeting, the market capitalization manages to overcome and stay above that level, then we will see Ethereum above 2K and growth in altcoins.
If Powell continues to talk about the importance of fighting inflation and spreading other negativity, as he did in recent speeches, stock markets will fall, Bitcoin will likely remain in its previous range, while altcoins will hover around current levels.
The priority option for today is Bitcoin in a range with a lower boundary at 93000-92800 and an upper at 98000-98500.
Alternative - consolidation above 98500.
"TAKEN FROM THE MAIN CRYPTO CHANNEL"
