Will Bitcoin Resist This Week's Macro Test?
This week may be crucial for the crypto market, particularly Bitcoin (BTC), as it faces its biggest macro test yet.
Following a 5% rally in September, which saw BTC reach $82k, the price has struggled to reclaim the $80k level.
The impending inflation data could have a significant impact on rate expectations ahead of the September FOMC meeting, with the market remaining uncertain about the Fed's next step.
A hotter-than-expected print could prompt an immediate unwind of risk assets, causing BTC to fall significantly and leading to greater liquidation.
Despite this, Bitcoin's underlying resilience remains intact, reinforced by its highest buying pressure since the bear market started, with spot demand rising and institutional flows remaining strong.