MicroStrategy plummets + interest rate hike double whammy! BTC falls below 85000, is the year-end market uncertain?
The central bank of Japan is very likely to raise interest rates on the 18th - 19th of this month. The negative impact of this news has been weighing on the market, and everyone's concerns about money becoming tight have suddenly surfaced. Additionally, MicroStrategy's stock price plummeted by 8.3% yesterday, influenced by these two factors, causing $BTC to panic and drop directly, hitting a low of 85000.
Looking back at the interest rate hike cycle that began in 2024, every time news of a rate hike hits, the big coin significantly retraces. After the rate hike in March 2024, the big coin fell by nearly 23%; after the rate hike in July, it dropped by about 26%; and following this year's January rate hike, the decline exceeded 30%, and the magnitude of the drop is increasing.
Now, with the year-end Christmas approaching, money in the market has become tighter. Given these circumstances, I feel that the future trend of the market after this rate hike is not very optimistic. This rebound peaked at 94500, just 500 dollars away from my rolling order at 95000. I estimate that I won't be able to complete the rolling operation before the year-end, and I plan to hold on and see if it will drop below 80000 in the first quarter of next year.
ZEC has recently started to make up for its decline, and it is now fluctuating around the 400 mid-track. Last week's weekly line ended with a reduced volume and a long upper shadow, indicating that the rebound strength is not strong. Under the pressure of interest rate hikes and negative sentiment, the possibility of this week's rebound hitting a new high is basically impossible.
Currently, I am holding a rolling short position above 450. Whether it can be executed depends on luck. From a broader trend perspective, it is very likely that ZEC will eventually drop below 300 and hit a new low.
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