Thread by @cryptopigmedia

BTC Price Skyrockets 🚀– What's Next for Bitcoin?

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1/ The Fed signaled that it tightened too hard and may need to pause or cut rates, which has to #bitcoin hitting $27K over night.

But where next for bitcoin? Lets dive in...

2/ 📊 Recent data from Cointelegraph and TradingView revealed BTC/USD hitting $27,025 before consolidating. At the time of writing, the pair is around $26,500 , but WHY the sudden surge....? #BitcoinPriceMovement

3/ 🚀 A catalyst for this fresh upside came from the Federal Reserve's balance sheet data, showing almost $300 billion being injected into the economy as part of the banking crisis response. This further fueled the price movement for Bitcoin. #FederalReserve #BTC

4/ 💰 As the bond market adjusts its expectations, a potential period of rate cuts and renewed QE looms, creating bullish sentiment for risk assets like Nasdaq, S&P, and Bitcoin. The Swiss government's backing of Credit Suisse also impacted the market. #Fed #QE

5/ 🔁 The road to $30k for Bitcoin will be choppy, as many are looking to short. A pullback to $25k may be expected, but uncertainty remains due to the lack of a clear BULL or BEARISH narrative this year. #BitcoinPrice

6/ 🌐Investors seem to have shifted from stablecoins to more volatile cryptocurrencies. Matrixport suggests that Bitcoin will benefit from the current financial instability, falling inflation, and regulatory overhang affecting stable

7/Shorts are piling up. It is unlikely that we will see $30K without a pull back here. It WILL be choppy and if next weeks FED inflation announcement comes in negative, we will see a quick drop in price.

8/ If it is positive news we will likely break $30K.
I am selling some of my position on this rise and being careful. I am looking to long #btc on the next retrace

Are you buying or selling #btc today?

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