FED will reportedly reduce its balance sheet by $47.5 billion in the first three months from today.
Higher interest rates will likely shift investors’ risk appetite in favor of risk-off assets such as bonds.
Another translation for the observation is that there was sufficient demand to catch BTC at lower prices.
Its realized profit metric dropped to $265 million in the last 24 hours, which means only a small percentage of BTC holders are currently in profit.
The risk of more BTC downside cannot be understated, but it appears there is still healthy demand providing healthy support just below the $30,000 price level.
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