Trying a new thing out where for people who miss the spaces. I usually do a short 10 minute breakdown at the beginning of the space and i am going to try and put those in text. Bitcoin (BTC): Bitcoin is currently trading at $111,486. We saw a recent low around $107K on August 28â29, followed by a recovery. Right now, price action suggests Bitcoin is consolidating in this area. ETH/BTC Ratio Iâve been watching the ETH/BTC ratio closelyâitâs probably the most important chart in the market right now. My average entry was around 0.023. I took profit on one-third of my position at 0.043. Currently, weâre back to 0.038, a bit of a pullback, but I think this area holds as support. Macro-wise, rate cuts are coming, job numbers are weak, and investors remain cautious. Initially, markets may react negatively (âtoo late, recession incomingâ), but the $5 trillion debt ceiling raise makes long-term bearishness harder to sustain. My view: you want strong exposure to Bitcoin. Ethereum...
25.87K
12
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.