📊 Bitcoin fluctuates sharply as Wall Street opens
$BTC has dropped below $114,000, turning this price level into a difficult short-term resistance. According to analyst Rekt Capital, the bulls are “running out of steam” as they are continuously rejected at the $114,000 level.
💡 Trader Daan Crypto Trades believes that the $109,850 – $111,900 range is a notable area to establish a local bottom. If it goes lower, the bullish structure may weaken significantly. Order book data from CoinGlass also shows dense liquidity around $112,900 – the price level the market is testing.
🌍 On a macro level, the US-EU trade agreement has not had much impact, but market sentiment remains tense ahead of the Jackson Hole conference. FedWatch shows that the probability of keeping the interest rate unchanged in September is at 25%, while Kalshi raises the probability of not cutting rates to 36% – the highest since early August.
📅 All eyes are on Fed Chair Jerome Powell's speech this coming Friday. A “hawkish” signal could put continued pressure on BTC, while a “dovish” message could help the price bounce back.
📈 Key levels to watch:
Short-term resistance: $114,000 – $115,500
Near support: $111,900 – $112,900
Deep support: $109,850
⚠️ This is just a market perspective for you to consider, not a “buy-sell based on signals.” Profit and smile 😆, if you lose… remember to breathe evenly! 🧘