⚖️ BTC Holds Firm as Fed Drama Escalates — Cook Plans Legal Battle Against Trump

Bitcoin hovered around $110,700 on Wednesday, holding steady after a rebound from Tuesday’s lows. The market is digesting the clash between President Donald Trump and the Federal Reserve after Fed Governor Lisa Cook announced plans to sue Trump over her dismissal.

📊 ETF Flows & Market Sentiment

On Tuesday, US spot Bitcoin ETFs recorded $88M in inflows, ending a six-day streak of outflows since August 15. While this signals improving institutional demand, the rising leverage concentration poses risks of a sharp squeeze.

📉 Recent Price Action

BTC dropped 12% from its August 14 all-time high of $124,474, bottoming near $108,666 on Tuesday.

After reclaiming the 100-day EMA ($110,827), BTC closed back above it.

As of Wednesday, BTC trades near $110,700, showing resilience despite macro uncertainty.

⚡ Leverage Risks

According to K33 Research, perpetuals open interest surged by 13,472 BTC from Friday to Monday, hitting 2-year highs. Elevated leverage increases volatility risks, making BTC more vulnerable to squeezes.

📈 Outlook

If Bitcoin holds above the 100-day EMA, bulls could push toward the next key resistance at $116,000.

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