Bitcoin moved within the range of 67124-68935 during the day
At the time of writing the Review, the price of the main cryptocurrency was 67991
Market capitalization 2.47 trillion, dominance index 54.11%, fear index 73
Stock markets were down yesterday. The S&P 500 closed at 5277, down 0.76%, the Dollar Index is back above 105, and bond yields continue to rise.
As was said yesterday, the combination of stock indices at highs and high bond yields is a dangerous condition for the markets. However, for now this is just a small correction - market participants understand that the Fed in the current situation no longer has an alternative to generating money (which has already been announced).
As for the rate reduction, the first reduction is now expected only in November (the probability of a reduction in September is only 41%). But I think that by November the rate will be reduced twice.
Today at 15-30 Moscow time data on GDP, labor market and trade balance will be released. Tomorrow there will be more important data for the Fed on the PCE index. At this point, the bond yield will either break 4.7% and go higher (then the correction in the stock market will continue). Or bond yields will go down and markets will go up.
The principle of assessing data is the same - the worse, the better.
Now Asian indices and S&P 500 futures are falling. Oil and gold too.
Bitcoin moved within yesterday's forecast, closer to the lower limit of the range. Now, with varying success, it is trying to gain a foothold above 68K. The alts have sank somewhat, the dominance index has increased, Ethereum is already below 3800.
Of the alts, WLD and AR showed growth over the past 24 hours, and the undisputed leader was Notcoin. DWF, which acts as their market maker, knows its stuff.
The priority option for today is Bitcoin in a range with a lower limit at 67000-66500 and an upper limit at 68800-69000
Alternative - consolidation above 69000
