BTCUSD declined sharply as the Fed might delay the rate cut. It hit a low of $62599 and is currently trading around $62776.
New whales bought BTC at an average price of $56400 via spot BTC ETF. The net inflows of BTC ETF increased by over $2.5 billion last week alone.
Factors to watch for Bitcoin price action-
US markets -
NASDAQ (negative correlation with BTC) - Bullish (neutral for BTC). The NASDAQ consolidating in a narrow range ahead of US Fed monetary policy tomorrow. Any close above 18350 will take the index to 18500.
According to the CME Fed watch tool, the probability of a no-rate cut in Mar decreased to 99% from 98% a week ago.
Technicals-
BTCUSD trades below the short-term moving average (21 and 55 EMA) and above the long-term moving average (200 EMA) in the 4-hour chart.
Minor support- $61900. Any break below will take it to the next level at $60000/$59000.
Bull case-
Primary supply zone -$65000. Any break above confirms a bullish continuation. A jump to$69000/$75000 is possible.
Secondary barrier- $75000. A close above that barrier targets $80000.
It is good to buy on dips around $59000 with SL around $56000 for TP of $75000.


FxWirePro- Major Crypto levels and bias summary
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95
FxWirePro: GBP/NZD slide extends ,eyes 2.2600 level
FxWirePro: EUR/AUD downward momentum remains in place
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro- Major Pair levels and bias summary
Ether Breaks Below $2,100: Triple EMA “Sell-the-Rally” Setup Targets $1,900
FxWirePro: EUR/ NZD dips below lower range, bearish bias increases
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
Bitcoin Buckles at $73,500: Middle East Tensions and Weak Institutional Demand Set Bearish EMA Stack on $70K Collision Course
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates 



