💰 Bitcoin Struggles to Break $80,000 Resistance
Bitcoin failed to clear the $80,000 mark on Sept. 11, reaching an intraday high of $79,890 before pulling back. While the S&P 500 and other stock indices climbed 1%, BTC remained stuck below a critical resistance zone identified between $80,000 and $82,000.
Macro pressure remains high as 10-year Treasury yields touched 4.99%, their highest in nearly three years. Investors are closely watching the Federal Reserve meeting on Sept. 15-16, with markets pricing in an 85% chance of a quarter-point rate hike following a 0.3% rise in core CPI.
Trading firm QCP notes heavy options activity, with concentrated interest in $80,000 calls and $75,000 puts. Key support levels are currently sitting between $76,300 and $76,500. A sustained move above $82,000 is needed to confirm a recovery.
#Bitcoin #CryptoNews #Fed #MarketAnalysis
Bitcoin failed to clear the $80,000 mark on Sept. 11, reaching an intraday high of $79,890 before pulling back. While the S&P 500 and other stock indices climbed 1%, BTC remained stuck below a critical resistance zone identified between $80,000 and $82,000.
Macro pressure remains high as 10-year Treasury yields touched 4.99%, their highest in nearly three years. Investors are closely watching the Federal Reserve meeting on Sept. 15-16, with markets pricing in an 85% chance of a quarter-point rate hike following a 0.3% rise in core CPI.
Trading firm QCP notes heavy options activity, with concentrated interest in $80,000 calls and $75,000 puts. Key support levels are currently sitting between $76,300 and $76,500. A sustained move above $82,000 is needed to confirm a recovery.
#Bitcoin #CryptoNews #Fed #MarketAnalysis