$BTC
Bitcoin Price Analysis!!!
Bitcoin fell to a low of 96,233 before attempting a recovery.As a result, crypto derivatives registered nearly 1.2 billion in liquidations over the period, Sharper corrections among major altcoins followed BTC’s slump, as the total crypto market cap fell 9% in the same period to 3.63 trillion.
The crashes are likely an aftermath of Fed Chairman Jerome Powell’s statement about the US interest rate policy.
On Dec. 18, Powell signaled that the policy rate could be more cautious following the recent cuts, which analysts see as two rate cuts next year. Additionally, the Fed Chair noted that potential cuts will depend on market data and will take time for inflation to reach 2%.
Now we have complete overview of market, US inflation rate increase by 2% and after FED Chairman news investment is decrease by 9% so stock market crash completely as a result crypto market crash by almost 17.3% - 18%, bitcoin still in bullish zone, strong support at 90k, but still eth, sol crash much expected then our analysis. 1.2 billion dollars liquidation in just 24 hours. Bitcoin just touches to gold and reverse back, before Christmas it's unexpected move of crypto market.
Now as per my analysis market moves up after touching 96.3k and makes their bullish trend again but if btc goes down below 96.3k again then we have seen btc at 90k or maybe they break this support, 2nd thing is that btc recover again when CPI release anorher data which have some correction, which is expected tomorrow, till date CPI data shows that inflation rate increase more by 5%, last time same cpi report and same fed cut rates around 4.5%-5%, but market never crash as much as now because of very negative statement from FED Chairman side. Now hold and see where market is going. Overall market is still in bullish zone untill btc hold above 90k.
