Bitfinex’sHead of Derivatives discusses the impact of potential rate cuts onBitcoin’sprice,highlighting macroeconomic factors and technicalindicators.
Points
- U.S.macroeconomicuncertaintyaffectsBitcoinprices.
- PotentialratecutscouldbolsterriskappetiteanddriveaBitcoinrally.
- TechnicalindicatorsliketheMayerMultiplearecrucialformarketanalysis.
MacroeconomicInfluenceonBitcoin
U.S.macroeconomic uncertainty has driven Bitcoin to atwo-monthlow,but cooling inflation suggests that monetary policy may soon bolster riskappetite.Bitfinex’sHead ofDerivatives,JagKooner,notes that the FederalReserve’scautious optimism about inflation may lead to interest ratecuts,which could positively impactBitcoin.
TechnicalAnalysisandMarketSentiment
Bitcoin’srecent performance reflects a complex marketsentiment.The MayerMultiple,a technical indicator that assesses the ratio betweenBitcoin’sprice and its200-daymoving average（200DMA）,is particularlyinsightful.
Moving towards technicalindicators,we can use the widely used Mayer Multiplemetric,which assesses the ratio between#Bitcoinprice and its200DMA.
https://twitter.com/glassnode/status/1808834930731868502
Skew,a populartrader,points out that Bitcoin has crossed its200DMAfor the first time in nearly tenmonths.This crossing could indicate ashift,but it requires robust market demand and clear reversal signals to validate a consistent markettrigger.
$BTC4H
First test of200DMA since Oct2023reclaim（pre-ETF）
Sofar,since trend rejection&reversal around$63.8K,spot selling has been the main driver of thistrend.
https://twitter.com/52kskew/status/1808714751729619375
NavigatingMarketDynamics
Without strong market demand and clear reversalsignals,Bitcoin could face increased volatility and a potential acceleration of its downwardmomentum.Investors should be cautious and monitor these technical indicators and market behaviorclosely.
解説
- MacroeconomicFactors:PotentialratecutsbytheFederalReservecouldincreaseriskappetite,drivingaBitcoinrally.
- TechnicalIndicators:TheMayerMultipleand200DMAcrossingsarecriticalforunderstandingmarkettrends.Investorsshouldusetheseindicatorstomakeinformeddecisions.
- MarketSentiment:UnderstandingtheinterplaybetweentechnicalindicatorsandmacroeconomicfactorsiscrucialfornavigatingBitcoin’svolatilemarket.