Bitcoin just dropped under its 200-hour moving average while the U.S. dollar index is on the rise. Powell's upcoming speech could really influence what happens next.
Traders in the short term are keeping an eye on the $120K mark; if that goes, we might be looking at a bigger pullback.
On the bright side, ETF inflows are still healthy, with over $3.5B flowing into BTC funds last week, pointing to continued institutional interest.
BTC Dips Below Key Level as Dollar Gains Ahead of Powell's Speech
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In your opinion, if Powell maintains a "hawkish" tone (tough on inflation), can BTC maintain buying power from ETFs, or will this cash flow temporarily withdraw to wait for a clearer signal from the FED?
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