I just rechecked the FED meeting minutes and saw that the situation is pretty tense. The big players at the Fed have just landed a hard punch by saying that inflation is cooling down more slowly than expected, and that the risk of high inflation is still a threat. This completely puts an end to expectations of an early rate cut, and even some members are considering raising rates further if needed. The crypto market immediately started bleeding because of this news.

BTC is now at $75.03K (, up 1.16% in 24h), but it still hasn’t managed to break through heavy pressure. It fell from the $82,600 ( 50-day SMA) zone, and the RSI indicator at 34 shows that the recovery momentum is still very weak. Key support zones are $70K, $64K and further down at $60K, while resistance at $75K-$76K is waiting for sell-offs.

ETH is getting hit with a similar squeeze, currently at $2.38K ( +2.72%), but buying power remains thin. The CMF flow is negative, indicating that selling pressure still has the upper hand. XRP is in an even worse situation: it’s priced at $1.40 ( +2.86%), but it’s being tightly held below the Bollinger Band, with no sign of active buying. If it breaks below $1.35 and $1.25, it could probe even deeper lows.

I’m thinking that at this point, we shouldn’t rush to catch a falling knife. The macro situation is still way too ugly, and the FED is still relentlessly hawkish—so we should wait for the market to confirm a bottom first. What do you all think—dare to bet on $60K ?