#Bitcoin Traders: Crucial Moves Before Tonight's #CPI and #FOMC.

👇1-12) Tonight’s double macro-event of CPI and FOMC appears to be a coin flip after last week’s higher-than-expected US #employment data, which caused most Wall Street banks to push out their first rate cut expectations towards September, if not later. Although the interest rate-sensitive #Nasdaq has continued to make new all-time highs, Bitcoin has declined from 71,000 to 67,000.

👇2-12) Bitcoin could break to new highs if prices climbed above 72,000 (71,946). However, we have warned that over-positioning in #Ethereum (leveraged) futures could cause unwinding with negative implications for #Bitcoin (here) and preferred Bitcoin over Ethereum (last week BTC -5% vs. ETH -9%). Our report on Monday showed the chart below, as Bitcoin traded dangerously close to the uptrend line (purple).

👇3-12) Full report: https://mail.10xresearch.co/p/bitcoin-traders-crucial-moves-tonights-cpi-fomc

#BTC #ETH