Bitcoin holds $80K as falling wedge points to potential breakout
- —BTC fell to $79,700 on Thursday after PPI hit 6.3% y/y, rebounded to $82,000 on Friday
- —About $950 million in leveraged positions were liquidated during the week
- —Wallets holding 10-10,000 BTC hit a record 20,338, per Santiment
- —Odds of a Fed rate hike in October rose from 20% to 35-45%
Why it matters: A break above the wedge's upper boundary near $83,000 would open the way to $84,500 and $87,000; a close below $80,000 would invalidate the bullish scenario.
Source: Bithub