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Analysis: BTC $74,000 is a key support level; you should pay close attention to the policy remarks by Federal Reserve Chair Wosh.

MeNews
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ME News message: On May 18 (UTC+8), Bitcoin’s price fell below $77,000 on Sunday evening in the U.S. East Coast time zone, dropping to a low of $76,593. This decline is believed to be linked to U.S. President Trump’s military threats against Iran posted on Truth Social, which has increased geopolitical risk. Meanwhile, Brent crude oil and WTI crude oil both rose to $111.2 per barrel and $107.7 per barrel, respectively. The market is concerned that higher oil prices may trigger inflationary pressure, and the Federal Reserve may resume rate hikes. In addition, last week’s Bitcoin ETF flows saw outflows of $1 billion, ending six consecutive weeks of net inflows, and the Fear & Greed Index fell to the “Fear” zone at 27. Analysts noted that Bitcoin in the short term will be influenced heavily by macroeconomic factors, so attention should be paid to the $74,000 support level, as well as the policies of the newly appointed Federal Reserve Chair, Wosh, and the progress of the Cryptocurrency Clarity Act. (Source: MLion)
BTC3.38%
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