ANOTHER ASSASSINATION ATTEMPT ON DONALD TRUMP
The second assassination attempt on Presidential Candidate Donald Trump in the past two months. Will this have the same bullish effect on markets?
The Secret Service has foiled a second assassination attempt on Donald Trump during his round of Golf overnight.
Following the first assassination attempt, markets rallied, as the so-called ‘Trump Pump’ seemed to materialise. BTC rallied 15% over the next five days. However, the recent attempt has yet to produce a similar market reaction, with BTC down over 2.5% in less than 8 hours.
We can expect the next 72 hours to be highly volatile due to the upcoming FOMC meeting. An interest rate cut is widely anticipated, with the only remaining question being: "How significant will it be?" The current interest rate range is between 525-550 basis points, and the probability favors a larger cut of 50-75 basis points rather than a smaller one of 25-50 basis points.
BTC/USD Key Levels and Price Action:
After a few bullish days for Bitcoin, it seems the bears are regaining control. The bears have successfully defended the key resistance level of $60.2k, and now BTC is approaching the next support level at $57.7k. Both the 200 SMA and EMA converge around this level. A growing concern for BTC is the potential bearish cross of the 21 and 55 EMAs (the yellow crossing below the green line), which would confirm a short-term bearish trend.
BTC Total ETF Flows for 16 Sep: $ N/A
ETH/USD Key Levels and Price Action:
Ethereum continues to show weakness against Bitcoin. ETH has already experienced a bearish cross of the key 21 and 55 EMA and has fallen below both the 200 EMA and SMA. The $2,171 support level remains crucial and will likely be re-tested due to ongoing bearish pressure.
ETH Total ETF Flows for 16 Sep: $ N/A
Written by Alexandar Artis
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