♦️Bitcoin Surpasses $84,000: Is the Bull Market Coming Back?

Bitcoin has recovered its losses in recent days and climbed above the $84,000 level. This rise has raised the question among market participants, "Is the bull market making a comeback or is this just a temporary bounce?" Bitcoin's volatile performance in recent weeks has caught the attention of both technical and fundamental analysts. Notably, the decline in the Bitcoin amounts of spot ETFs in the United States is creating uncertainty in the market. However, Bitcoin's holding of the $80,000 level as support suggests that buyers are still active.
♦️U.S. Spot ETFs and Institutional Sell-Off: Is Market Pressure Increasing?
Spot Bitcoin ETFs in the U.S. have experienced a significant reduction, selling a total of 55,438 BTC over the past 35 days. This marks a decline in institutional investors' interest in Bitcoin. The continuation of corporate sales may put additional pressure on the market, especially in the short term. However, in the long run, such moves could help the market enter a healthy consolidation process. A decrease in the amount of BTC held by ETFs means an increase in supply in the market, which can temporarily put pressure on prices.
♦️Ethereum's DeFi Ecosystem Is Growing: Long-Term Potential?
Ethereum's DeFi (merkeziyetsiz finans) ecosystem has seen remarkable growth in recent years. Total value locked (TVL) and trading volumes are increasing. This growth shows that the Ethereum ecosystem is attracting more and more users and projects. Developments in the DeFi space could support Ethereum's long-term price growth, in particular. ETH's price performance can be directly related to the growth of the ecosystem. However, market conditions and fluctuations in the overall cryptocurrency sector can also affect ETH's performance.
♦️Uncertainty Before the US Federal Reserve's Interest Rate Decision: How Will the Market Be Affected?
With just a few days left for the US Federal Reserve's (Fed) interest rate decision, market participants are evaluating the Fed's possible steps. The balance between fighting inflation and economic growth complicates the Fed's decision. Rising recession risks may require the Fed to pursue a more careful policy. The Fed's interest rate decisions can affect all markets, especially the cryptocurrency market.
♦️How Are Market Expectations Shaped Before the Fed's Interest Rate Decision?
With 3 days to go before the Fed's interest rate decision, market participants assess the probability of a rate cut at 2%. This creates the expectation that the Fed will maintain its current policy. However, the balance between rising recession risks and containing inflation could complicate the Fed's future steps. While the markets are closely following the Fed's interest rate decisions, the cryptocurrency market in particular may also be affected by these developments.
♦️Summarize:
Bitcoin's rise above the $84,000 level has created an optimistic sentiment in the market, but BTC sell-off in U.S. spot ETFs and institutional investors' attitudes may weigh on it in the short term. While the growth in Ethereum's DeFi ecosystem offers long-term potential, recession risks in the US economy and the Fed's interest rate policy stand out as important factors that will determine the general direction of the markets. Market participants should carefully monitor these dynamics and prepare to take advantage of future opportunities.
🌟I wish you safe and careful investments! 🚀
#BTC # ETH #DeFi # Fed #Kripto