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Crypto Braces for Powell’s Call: Bulls Eye Breakout, Shorts Wait for Slip
Key Takeaways
- Bitcoin hovers just below $116,300 ahead of today’s FOMC decision, with $117,000 forming a critical liquidity cluster.
- Spot ETF flows remain supportive, with Bitcoin ETFs logging $292 million in inflows on September 16, marking seven straight days of net buying.
- Ethereum ETFs broke their streak with $61.74 million in outflows, highlighting a divergence in institutional appetite.
- On-chain data indicates that short-term holders are regaining profitability, but a failure to maintain the $111.8k–$114.2k cost basis post-FOMC could spark a “sell the news” correction.
- Escalating US-Venezuela tensions and Powell’s remarks risk amplifying volatility across the cryptocurrency and risk asset markets.
Market Opportunity
BULLS Price(BULLS)
$379.48
$379.48$379.48
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