While the aid package is expected to pass from the Senate, on the other hand, the Bitcoin and S&P 500 correlation has risen to a five-month high. The effect of this sentence on cryptocurrencies is quite intense. Rising interest rates in the USA, rhetoric that the corporate tax will be increased and the increase in the UK put pressure on major indices and even altcoins are affected by Bitcoin dominance. BTC, trading at the $ 47,000 level this morning, seems to be with 2.5% sellers. Although it is not a problem with cryptocurrencies, this situation, which is suppressed by the global risk appetite, increases the uncertainty. Speaking yesterday evening, Fed Chairman Powell said that the calmness will be maintained for now for rising interest rates, that the Fed is far from its targets and will use all the tools at its disposal if necessary; The upward pressure in interest rates continued and caused the currencies to be negatively affected.
When we consider BTC / USD technically, the declining trend that occurred in the daily period, the bullish channel that was disrupted in the four-hour period and the TOBO that did not form, rejected the rise. For this reason, there is a technical weakness. Although incoming metric data says that big sellers are stopping, the volumes show us that new buyers are not entering. The double top outlook in the daily period is also preparing downside if the $ 44,000 level is broken. For this reason, it can be considered to put stop loss behind the 44 thousand zone. Currently, there is a response run at $ 46,500, which corresponds to the Fibo'23.6 slice. 48.800 is the resistance zone that corresponds to the Fibo'38.2 slice.