FX.co ★ teagan.orn | #Bitcoin chart analysis

Hello everyone! Today I’m expecting Bitcoin to return to the $64K level. The cryptocurrency failed to update the local high at $67K, forming a reversal signal – a “Double Top”. Despite investors returning to buying BTC ETF shares, the news flow is negative. The adoption of the most important law – the Clarity Act – is in serious doubt. The search for compromises has not brought Democrats and Republicans closer together, even though bankers and crypto firms have reached a common agreement. Polymarket estimates the probability of the law being passed this year at 37%. Another factor putting pressure on the BTC price is today’s ECB meeting and next week’s Fed meeting. Apparently, both central banks will confirm their course of freezing rates with a possible subsequent hike. Tight monetary policy deprives cryptocurrencies of capital that is flowing into bonds, whose yields keep rising.