#signdigitalsovereigninfra $BTC
After dropping from $72,000, $BTC is currently hovering around $66,700. The market sentiment is currently in "Extreme Fear" (10/100)—historically, this has often been a signal for a massive reversal.
Why the drop?
Sell-the-News: Despite the historic SEC/CFTC commodity ruling, traders unwound $14B in options on Friday.
FTX Supply: $2.2B in creditor distributions are due by March 31, creating a temporary supply overhang.
Macro Headwinds: A strong US Dollar and high interest rates are pressuring risk assets.
Key Levels to Watch:
Support: The $65,000 zone is critical. If we hold this, expect a bounce back toward $70k.
Resistance: $BTC needs a daily close above $70,500 to confirm a bullish trend shift.
My Strategy:
I’m looking for long entries in the $63,000–$65,000 range if volatility spikes. Institutional inflows into spot ETFs like IBIT remain strong (+$1.6B this month), showing that big players are still buying the dip