Bitcoin is currently trading around $109,500 following a week of volatility marked by significant liquidations exceeding $850 million. The market faces downward pressure due to macroeconomic concerns, including hawkish Federal Reserve guidance and a strong US dollar, which have dampened risk appetite. Technically, Bitcoin struggles below a descending trendline, with strong resistance near $112,000 and bearish signals from moving averages and RSI indicators. Traders watch for a decisive break above $114,000 to initiate a potential bullish rally during the historically strong 'Uptober' period. Additionally, Bitcoin Hyper ($HYPER) emerges as a promising Bitcoin-native Layer 2 solution leveraging Solana's speed to enhance BTC functionality, with its presale gaining traction.
Continue to read Bitcoin Market Faces Key Resistance Amidst Macroeconomic Challenges and Technical Tests
Bitcoin is currently trading around $109,500 following a week of volatility marked by significant liquidations exceeding $850 million. The market faces downward pressure due to macroeconomic concerns, including hawkish Federal Reserve guidance and a strong US dollar, which have dampened risk appetite. Technically, Bitcoin struggles below a descending trendline, with strong resistance near $112,000 and bearish signals from moving averages and RSI indicators. Traders watch for a decisive break above $114,000 to initiate a potential bullish rally during the historically strong 'Uptober' period. Additionally, Bitcoin Hyper ($HYPER) emerges as a promising Bitcoin-native Layer 2 solution leveraging Solana's speed to enhance BTC functionality, with its presale gaining traction.
Continue to read Bitcoin Market Faces Key Resistance Amidst Macroeconomic Challenges and Technical Tests
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