The hawk of the Jackson Hole meeting of Federal Reserve Chairman Kevin Walsh allowed the market to reassess interest rate prospects. As a result, bitcoin fell to US$ 76,845 and then fluctuated around US$ 77,000 to synchronized pressure on encryption market leverage positions.

Walsh stressed that inflation was still above target

In his address, Walsh stated that, while recent inflation data had improved, it was not sufficient to prove that inflation trends had continued to fall. He mentioned that PCE and CPI were still above the target of 2 per cent of the Fed.

He stated that the current data did not show that there had been a marked improvement in the trend towards potential inflation. This expression reinforces the expectations of the market to maintain higher interest rates for longer periods and exposes risk assets such as bitcoin to new shocks.

24-hour liquidation close to $480 million.

The chain-based data platform CoinGlass shows that some 95,731 traders have been liquidated over the past 24 hours, with a cumulative amount of approximately $479 million, of which many have lost about $368 million.

  • 24-hour total liquidation: approximately $479 million
  • Multiple liquidations: approximately $368 million
  • Maximum single settlement: Binance previous $11.6 million ETHUDT warehouse

Prices were fast down, indicating a high level of prior market leverage. Short-line fluctuations were further amplified in the context of a weaker macro-projection.

$81,000 is a focus.

According to the report, the analyst Ash Cripto considers $81,000 near the 50-week average to be an important current resistance position for bitcoin. Market sentiment may continue to be cautious if prices do not return to that level.

The analysis also stated that the cumulative decline of Bitcoin in the current cycle had been about 54 per cent, which was lower than the significant fall in 2018 and 2022, but that the current trend remained in vulnerable areas.

Some of the technical indicators have shown signs of improvement, including the shift from MCD, RSI and Stoch RSI. However, there is still a lack of stronger rebound confirmation in the market until prices are stabilized again at $81,000.

If the pressure continues to increase, the range of $75,000 to $70,000 could become the focus of the next phase.