Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC Bitcoin's "golden cross" signal temporarily expired, and Fed interest rate hike expectations increased to put pressure on the crypto market
Although Bitcoin's "golden cross" form, which is technically regarded as a positive signal, only lasted for a short time, but with the rapid rise in market expectations for the Federal Reserve's interest rate hike, the cryptocurrency market has come under tremendous pressure. Yesterday, Bitcoin (BTC) surged to US$79,837, pushing the 50-day exponential moving average (EMA) on the daily chart above the 200-day EMA, forming a classic bullish "golden cross" signal. However, BTC then fell back to about US$77,438, causing the 50th EMA to fall back below the 200th EMA, and the technical signal quickly expired.
Bitcoin's correction after inflation data was released
Bitcoin's correction coincides with a period of sharp reassessment of the Federal Reserve's policy expectations. The core U.S. consumer price index (CPI) rose 0.3% month-on-month, exceeding market expectations of 0.2%. According to FedWatch data from CME, affected by this, the probability that the market expects the Fed to raise interest rates by 25 basis points at the next meeting has risen sharply from about 69% before the CPI data was released to 86.5%.
As expectations of interest rate hikes heat up, risky assets including Bitcoin are facing selling pressure, causing most of BTC's previous gains to be erased.
However, technical indicators show that Bitcoin's medium-term prospects have not turned completely negative. On the four-hour chart, the 50-cycle EMA is still above the 200-cycle EMA, and the "golden cross" pattern is maintained within this time frame. At the same time, the average directionality index (ADX) indicator at the daily level is at 45, indicating that the current trend is still relatively strong.
On the other hand, the four-hour RSI indicator fell back to 43.3, indicating a significant weakening of short-term bullish momentum.
This article does not constitute investment advice.
