We can see the direction of BTC from the COT sentiment released last week, changes in the interest of big institutions to be balanced between strengthening commitments and weakening BTC commitments. This makes the value of Bitcoin itself tends to be sideways.

The strengthening of BTCUSD at the beginning of this week was caused by the weakening of the US dollar index , which we already know that the US inflation rate is still very high. So that safe haven assets such as Gold and BTC tend to be hunted by market players. The strengthening of BTCUSD is likely to continue before the increase in the US Dollar’s benchmark interest rate by 25 bps .