{"id":12557,"date":"2022-07-29T18:12:32","date_gmt":"2022-07-29T18:12:32","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-struggles-to-flip-24k-to-support-but-data-shows-pro-traders-stacking-sats\/"},"modified":"2022-07-29T18:12:36","modified_gmt":"2022-07-29T18:12:36","slug":"bitcoin-struggles-to-flip-24k-to-support-but-data-shows-pro-traders-stacking-sats","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-struggles-to-flip-24k-to-support-but-data-shows-pro-traders-stacking-sats\/","title":{"rendered":"Bitcoin struggles to flip $24K to support, but data shows pro traders stacking sats"},"content":{"rendered":"
Bitcoin (BTC) rallied on the back of the United States Federal Reserve decision to hike interest rates on July 27. Investors interpreted Federal Reserve Chairman Jeremy Powell\u2019s statement as more dovish than the previous FOMC committee meeting, suggesting that the worst moment of tight economic policies are behind us.<\/p>\n
Another positive news for risk assets came from the U.S. personal consumption expenditures price (PCE) index, which rose 6.8% in June. The move was the biggest since January 1982, reducing incentives for fixed income investments. The Federal Reserve focuses on the PCE due to its broader measure of inflation pressures, measuring goods and services price changes consumed by the general public.<\/p>\n
Additional positive news came from Amazon after the e-commerce giant reported that its quarterly financial results beat the $119.5 billion estimated revenue by 1.4%. Moreover, Apple released its 2Q results on the same day, matching analyst revenue estimates, while presenting earnings 3.4% above the market consensus.<\/p>\n
Exchange-provided data highlights traders\u2019 long-to-short net positioning. By analyzing every client\u2019s position on the spot, perpetual and futures contracts, one can better understand whether professional traders are leaning bullish or bearish.<\/p>\n
There are occasional discrepancies in the methodologies between different exchanges, so viewers should monitor changes instead of absolute figures.<\/p>\n