The Fed's rhetoric is tougher — as long as Powell says tonight that 'inflation is still far from target,' the expectations for a rate cut in September will immediately drop from 80% to 50%, the dollar will soar, and global risk assets will collectively take a hit, with Bitcoin being the first to experience a liquidity pull;
Whales offloading on-chain — in the past 48 hours, old wallets have sent 30,000 BTC to exchanges, which is a typical signal of 'big players making a run while retail investors pick up the pieces'; when whales move, the market gets anxious;
Long liquidations on leverage — the sudden drop last night of 113,000 caused 500 million in liquidations across the network within 24 hours, with longs just getting shaved and not yet recovering; another big bearish candle can trigger a chain liquidation!
Aggressive traders short above 114,500, while conservative traders are positioning long-term shorts around 115,200, targeting 113,100, 110,000, and 108,000! $BTC