$BTC

Negative technicals: BTC down -0.94%, currently testing the support level of $85k with negative MACD and RSI below 50, indicating downward pressure.

Adverse macro factors: Increasing market concerns due to the anticipated Bank of Japan (BoJ) interest rate hike, which has previously often occurred before BTC price corrections.

Buying from institutions: Despite concerns, spot Bitcoin ETFs still recorded a net inflow of +$457M, indicating strong demand from institutions absorbing the selling pressure.

Network and Rewards: Lightning Network capacity reached a record high. Meanwhile, new staking and trading campaigns have launched on Binance.

Weak BTC technicals

Price is below key EMA lines with negative MACD and RSI (44).

Currently testing support at the lower Bollinger Band near $84,300, indicating the downtrend continues.

Macro concerns and Whale tracking

The anticipated BoJ interest rate hike is causing market anxiety.

A large whale's significant loss increases the risk of a sell-off, while another whale transferred 5,152 BTC to Binance.

Opportunities to profit from BTC

Babylon Staking: Earn up to 2.5% APR from the BTC you hold.

Trading leaderboard: Compete for rewards of up to 5,888 USDC through Dual Investment.

Important levels to watch

Monitor the reaction at the support level of $84,300.

The key resistance level is near $86,684.