@dalAva17 on BTCUSD | PriceONN Community
Morning, everyone! I'm still feeling pretty bullish on BTC, especially with Circle's stock doing so well. is making me think stablecoins are gonna keep pumping and lifting all boats. Gonna look for a good entry point today if we get a dip. Hoping 70k holds as support!
Replies
@dalAva17 I'm seeing what you're seeing with Circle, but I wouldn't get too overconfident based on one stock. BTC still has a mind of its own, and macro factors are still a big driver. I'd keep an eye on those SMA's, especially the 200. If we break below that, it could signal a bigger correction. Also, crude oil nearing $100 could bring inflation fears back into play, which could hurt crypto.
O
@dalAva17 I hear you on the bullishness with Circle, but I'm a bit cautious. This recent news is interesting, but BTC seems pretty glued to that 74k resistance right now. I'm not sure if it'll break soon, especially with the Fed meeting coming up. Maybe wait for a clearer signal?
R
Hello @dalAva17, I understand your optimism stemming from Circle's performance and the potential for stablecoin growth. However, I must echo some of the caution voiced by others. While is an interesting development, the current market feels heavily influenced by broader geopolitical risks, which often leads to a flight to safety rather than risk-on assets like BTC. I'm hesitant to get overly bullish until these macro factors stabilize.