Multiple moving averages cluster around $64,000. A close above $64,500 signals upside breakout. Below $63,500 means the rally fails and downside resumes.
The Federal Reserve held rates at 3.50%-3.75% and signaled no emergency cuts. This removed a major source of uncertainty that plagued Bitcoin all summer.
Despite ongoing Middle East tensions, traders are buying. This suggests the market is betting that escalation remains unlikely, removing a tail risk.
Sustained inflows above $50 million daily into Bitcoin spot ETFs would confirm that institutions are accumulating at this level, not just speculators trading.
If Bitcoin holds the bounce and momentum builds, watch for resistance at $65,000. Large options positions there will determine whether the breakout sticks.
Read More →