Will Bitcoin be at or above $78,250 on Aug 29?
Signal ended
Entry · NO73¢
PublishedAug 29
Aug 29 forecast
Bitcoin was trading below the cutoff after a steep selloff on Aug. 29, so a qualifying noon close is a long shot.
Multiple Aug. 29 readings placed Bitcoin below $78,250 after a rapid reversal from above $81,000. A rebound of several hundred dollars remained feasible given the wide trading range, but downward momentum, leveraged-long liquidations, ETF outflows, and firmer yields and dollar favored a close below the cutoff. Only Binance’s noon ET one-minute close governs, and that exact observation is absent from the supplied reports.
Points to NO
- Same-day spot weakness left Bitcoin needing a meaningful rebound, lowering the chance of a qualifying noon close.At 06:31 UTC on Aug. 29, Bitcoin was displayed at $77,447, down 3.04%.
- The violent reversal and leveraged-long liquidations reinforced downward momentum, making a quick recovery less plausible.On Aug. 28, Bitcoin rose above $81,300 before falling below $77,000 within hours as nearly $488 million of crypto positions were liquidated, including more than $360 million of leveraged longs.
- Rising Treasury yields and a stronger dollar pressured Bitcoin during the selloff, reducing support for an immediate rebound.On Aug. 28, the two-year Treasury yield rose to 4.312% and the U.S. Dollar Index advanced to 99.47 as Bitcoin sold off.
Points to YES
- Bitcoin’s wide same-day range showed enough volatility for a recovery above the cutoff, keeping the affirmative outcome alive.On Aug. 29, Bitcoin was displayed at $77,671 after trading between $76,962 and $79,745 over 24 hours.
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