BTC Under Pressure: Macro Headwinds and Silk Road BTC Sales Weigh on Prices đĽś
Bitcoin rebounded to $95.2K after retesting $92.5K support but faces bearish sentiment amid reports of the US government selling seized Silk Road BTC. Macro pressures persist as the Fed signals slower rate cuts due to inflation risks, and mixed labor data adds to uncertainty.
Options markets show increased selling pressure on front-end vols and steepened curves across tenors. With US markets closed today, BTC is expected to consolidate between $92K and $95K, with a potential downside to $90K if $92K support breaks.
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