Bitcoin: Miller Ties 1.8T Deficit to BTC Case
Bitcoin market cap trails $1.8T US deficit, Bill Miller IV tells CNBC, as BTC trades at $79769.49 with EMA50 support at $73359.07.
SourceAnalysis
Bill Miller IV told CNBC the fundamental case for Bitcoin remains intact because this year’s $1.8 trillion US budget deficit already exceeds the entire BTC market cap, underscoring the scale of dollars that must be created.
Price action on the 4h chart shows BTC testing upper Bollinger resistance at $79595.23 while RSI(14) sits at 73.95 in overbought territory and MACD prints a death cross; a retracement toward the EMA50 support at $73359.07 looks probable before any continuation higher.
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