Good afternoon , everyone 💐

With the rising tensions between Israel and Iran, #Bitcoin has once again dipped below the $60,000 mark. This week, the U.S. will release #CPI and PPI inflation data, which could have a significant impact on the markets. Combined with war-related news, it looks like we’re in for a volatile week.

Last night’s close was at $58,700. Since the close was very close to the support level, it wouldn't be accurate to say that $59k has been lost. For a support loss, we would need to see a higher-volume and lower close.

Therefore, there is still a chance for the price to find support in the $58-59k range and start rising again.

The VIX fear index had surged to 65 recently, posing a serious threat to the markets. However, it has now retreated to around 20, which is a normal level. This indicates that the market might shift into "risk-on" mode this week. $BTC

Given that we’re in an important week, I’ll be sharing regular updates on the latest data and analyses.

This week is indeed a critical juncture. The impact of Israel-Iran tensions on #BTC and other risk assets is ongoing, while the upcoming U.S. inflation data could steer the markets in a significant way. The normalization of the VIX index suggests that investor risk appetite may increase, but it’s essential to remember that this week will be a delicate balance; both technical and fundamental data should be monitored closely.

Wishing everyone a great day and profitable trades!