Will Bitcoin be at or above $78,250 on Aug 29?
Signal ended
Entry · NO80¢
PublishedAug 29
Aug 29 forecast
Bitcoin was trading below $78,250 after a sharp selloff, so a qualifying Binance candle close is a long shot.
Contemporaneous spot readings were consistently below the threshold after Bitcoin rapidly surrendered levels above $80,000. Forced long liquidations, a stronger dollar and rising Treasury yields reinforced the decline. Large intraday swings leave a slim recovery path, but the required Binance close remains unreported and a durable rebound before the deadline is doubtful.
Points to NO
- Bitcoin entered Aug. 29 below the required level and continued falling, leaving it needing a rapid rebound before the designated close.At 06:31 UTC on Aug. 29, Bitcoin was displayed at $77,447, down 3.04%.
- The preceding collapse from above $81,000 created strong downward momentum and extensive forced selling, making an immediate recovery less likely.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.
- A stronger dollar and higher Treasury yields pressured risk assets, reducing the chance that buyers quickly reverse Bitcoin's selloff.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 intraday range shows that the threshold remains reachable, preserving a narrow path to a qualifying close despite the weak latest readings.On Aug. 29, Bitcoin was displayed at $77,671 after trading as high as $79,745 and as low as $76,962 over 24 hours.
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