Bitcoin: Growth Repricing Keeps Downside Risks Elevated
André Dragosch states that incomplete repricing in global growth expectations under tight monetary policy leaves short-term downside risks elevated for Bitcoin, echoing conditions seen in the 2022 Fed hike cycle.
SourceAnalysis
André Dragosch notes that the recent repricing in growth expectations remains incomplete, with tight monetary policy likely to drive further downside and sustain elevated risks for Bitcoin in the near term, consistent with its historical correlation to global growth forecasts during the 2022 rate-hike period.
At $81513.1, BTC trades inside its Bollinger Bands with the upper resistance at $82691.21 and lower support at $80918.8. The structure sits below both the EMA50 at $82215.29 and EMA200 at $82046.62, confirming the bearish trend, while RSI at 45.23 stays neutral and the MACD golden cross at -81.14 signals building momentum. Price action near the upper band with neutral momentum points to a probable retracement toward the 50-EMA support before any sustained move higher.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.