Reasons for the decline in the crypto market

The key trigger that weakened the US cryptocurrency and US stock market was macroeconomic data. Unemployment in the country is low, and the CPI and PCE inflation indices have increased, despite high interest rates. The market believed that in such conditions the Fed would keep rates high longer than initially expected. There is also the added factor of instability in the Middle East and the tax season in the US, sucking liquidity from the system.

What to expect next from the crypto market?

While the macroeconomic situation remains stable, without giving new downside signals, the technical picture indicates significant buying by large capital.

Data on completed transactions indicate the active inclusion of large capital algorithms at the level of $57,000 per Bitcoin.

The cumulative order flow for the month reflects the great aggression of market participants, which was met by whale limits.

The predictive liquidation map indicates the location of all key liquidation arrays above current prices. This means there are magnets for BTC up to $72,750.