ANOTHER ASSASSINATION ATTEMPT ON DONALD TRUMP

The Secret Service has foiled a second assassination attempt on Donald Trump during his round of Golf overnight.

Following the first assassination attempt, markets rallied, as the so-called ‘Trump Pump’ seemed to materialise. BTC rallied 15% over the next five days. However, the recent attempt has yet to produce a similar market reaction, with BTC down over 2.5% in less than 8 hours.

We can expect the next 72 hours to be highly volatile due to the upcoming FOMC meeting. An interest rate cut is widely anticipated, with the only remaining question being: "How significant will it be?" The current interest rate range is between 525-550 basis points, and the probability favors a larger cut of 50-75 basis points rather than a smaller one of 25-50 basis points.

BTC/USD Key Levels and Price Action:

After a few bullish days for Bitcoin, it seems the bears are regaining control. The bears have successfully defended the key resistance level of $60.2k, and now BTC is approaching the next support level at $57.7k. Both the 200 SMA and EMA converge around this level. A growing concern for BTC is the potential bearish cross of the 21 and 55 EMAs (the yellow crossing below the green line), which would confirm a short-term bearish trend.

BTC Total ETF Flows for 16 Sep: $ N/A

ETH/USD Key Levels and Price Action:

Ethereum continues to show weakness against Bitcoin. ETH has already experienced a bearish cross of the key 21 and 55 EMA and has fallen below both the 200 EMA and SMA. The $2,171 support level remains crucial and will likely be re-tested due to ongoing bearish pressure.

ETH Total ETF Flows for 16 Sep: $ N/A

Written by Alexandar Artis

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