#StrategyBTCPurchase Bitcoin Market Update: Resilience Amidst Political Noise
Not much has changed structurally since my last update; Bitcoin continues to trade within this sideways "chop" zone. However, the market reaction to today's headlines caught me off guard—and no, it’s not related to geopolitical tensions in Iran.
The Powell Situation
The big news today revolves around Fed Chair Jerome Powell. Following the criminal probe, Powell essentially went on the offensive, accusing the Executive branch of pressuring him to resign or step down because of his refusal to cut interest rates prematurely.
Normally, this kind of institutional friction and "war" between the Fed and the White House would trigger a massive "risk-off" move. Instead, we are seeing the opposite:
• #BinanceHODLerBREV Bitcoin is bouncing off local support.
• The S&P 500 is holding steady, sitting right at last week's closing levels.
My Take: Pure Bullishness
This tells me one thing: The market is incredibly bullish. When a market refuses to sell off on "bad" news, it’s a sign of underlying strength. Investors seem to be looking past the drama.
Right now, this #USJobsData BTC bounce looks like short-covering on the lower timeframes. However, keep a close eye on the tape. If spot bidders step in and aggressively clear the $92k resistance, I expect we’ll see $98k tested much sooner than the consensus expects.
Key Factors to Watch
• #StrategyBTCPurchase StrategyBTCPurchase: Staying patient but ready to add on a confirmed breakout.
• #USNonFarmPayrollReport & #USJobsData: These will be the next major volatility catalysts for the USD and BTC.
• #StrategyBTCPurchase USTradeDeficitShrink: Watching how this impacts the DXY strength.
• #StrategyBTCPurchase ZTCBinanceTGE: Monitoring new liquidity entering the ecosystem.
