In this video, we break down Bitcoin on the 4hr & 1hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading near $80,915, marking a roughly 3% decline over the past 24 hours as macroeconomic pressures trigger a broad sell-off across risk assets.
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Bitcoin Insights Today
• Hotter-than-Expected U.S. Inflation: The U.S. Consumer Price Index (CPI) report showed inflation climbing to 3.7% year-over-year. This unexpected jump cooled investor hopes for near-term interest rate cuts.
• Fed Rate Hike Fears: According to the CME FedWatch Tool, the odds of another Federal Reserve rate hike have spiked sharply to 44% (up from just 18% previously).
• Weakening Institutional Demand: Spot Bitcoin ETFs registered a massive single-day outflow of $261.46 million on Wednesday, highlighting temporary institutional cooling.
• Global Market Contagion: Crypto is tracking a wider global retreat from risk assets, compounded by an intense 8% intraday crash in South Korea’s KOSPI index that triggered market circuit breakers.
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