Fed rate pause triggers traders’ pivot to stocks — Will Bitcoin catch up?
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After a momentary retest of the $25,000 support on June 15, Bitcoin (Hawkish Fed, stocks market rally, and crypto falling behind
Bitcoin’s price gains are capped despite resilience in derivative metrics
Overall, Bitcoin bulls lack confidence to leverage long positions using margin and futures markets. BTC lacks momentum as investors’ attention has shifted to the stock market after the Fed decided to pause its interest rate hikes, improving the outlook for corporate earnings.
Despite the extremely negative regulatory pressure, professional traders did not flip bearish according to Bitcoin derivatives metrics. However, bears have the upper hand as the 20-day resistance at $27,500 strengthens, limiting the short-term upside to a mere 3.8%.
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
