#bitcoinrises23.6%weekly
๐จ $BTC JUST RALLIED 23.6% โ BUT IS A PULLBACK COMING? ๐
Bitcoin jumped from around $62K to nearly $79.5K, marking one of its strongest weekly moves in years.
So what's driving it?
๐ฐ Treasury catalyst: Long-term U.S. Treasury buybacks doubled from $2B to $4B, pushing 30-year yields lower.
๐ฆ ETF demand: Spot Bitcoin ETFs saw around $1.92B in weekly inflows.
๐ฅ Short squeeze: Roughly $2.7Bโ$3.5B in short positions were closed, adding fuel to the move.
But traders shouldn't chase blindly.
๐ Daily RSI reached 82.3, while BTC faces resistance around $77Kโ$79.5K. A weekly close above roughly $81.8K could strengthen the breakout case.
Next catalysts: Jackson Hole, Core PCE, Nvidia earnings and geopolitical developments.
Big question: continuation or pullback first? ๐
$ETH $SOL
#BTC #Bitcoin #Crypto #Investing #trading
๐จ $BTC JUST RALLIED 23.6% โ BUT IS A PULLBACK COMING? ๐
Bitcoin jumped from around $62K to nearly $79.5K, marking one of its strongest weekly moves in years.
So what's driving it?
๐ฐ Treasury catalyst: Long-term U.S. Treasury buybacks doubled from $2B to $4B, pushing 30-year yields lower.
๐ฆ ETF demand: Spot Bitcoin ETFs saw around $1.92B in weekly inflows.
๐ฅ Short squeeze: Roughly $2.7Bโ$3.5B in short positions were closed, adding fuel to the move.
But traders shouldn't chase blindly.
๐ Daily RSI reached 82.3, while BTC faces resistance around $77Kโ$79.5K. A weekly close above roughly $81.8K could strengthen the breakout case.
Next catalysts: Jackson Hole, Core PCE, Nvidia earnings and geopolitical developments.
Big question: continuation or pullback first? ๐
$ETH $SOL
#BTC #Bitcoin #Crypto #Investing #trading
