🟠 Event: Jerome Powell’s Statements + USD Strength

📉 Impact:

The S&P 500 (SPX) fell below its July 25th low, indicating weakness in traditional markets.

Bitcoin (BTC), on the other hand, managed to stay above this crucial level, demonstrating relative strength compared to equities.

🔍 Technical Insight:

BTC's ability to maintain support despite macroeconomic pressures suggests it is being perceived—at least temporarily—as a hedge or safe haven asset.

📌 Conclusion:

BTC Watch: If Bitcoin continues to hold above the 114,781 USDT level, a rebound could occur.

SPX Weakness: A further decline in equities might exert additional pressure across markets, but BTC's relative strength is a bullish signal.

#SPX $BTC #TechnicalAnalysis #CryptoMarket #Bitcoin #