Under the influence of macroeconomic indicators from the US and EU, pressure on the Bitcoin price is noticeably increasing. Prepared by traders of the KickEX exchange.
We also see a noticeable decrease in the consumer power of US citizens, which does not particularly play into the hands of optimistic holders of the main asset of the cryptocurrency market.
The 3AC story reached its peak, especially after the news of the sale of Su Zhu's personal property. This may indicate that the series of liquidations of the DeFi sector has reached its final phase.
Now there is uncertainty in the market and the upcoming stops for Bitcoin are not clear. It is likely that in the event of a breakdown of $17,600, we will face a further decline.
We see the following scenarios for the development of events:
Scenario 1: a breakdown of $17,600 and a stop near the level of $16 200, which looks quite logical within the framework of a local downward movement.
Scenario 2: if there is a revival in the market, then we can expect a movement towards a retest of the previous low of $25,300.
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