$BTC The next catalyst may genuinely lie outside the crypto market. Right now, I’m not watching which chain has released another update, but rather the Federal Reserve meeting minutes, the 10-year U.S. Treasury yield, and oil prices. The minutes from the Fed’s July meeting will be released on August 19. Meanwhile, the 10-year U.S. Treasury yield has risen from 4.63% to 4.72%, while tensions in the Middle East are pushing oil prices higher, so risk appetite is actually less stable than it appears. If the minutes lead the market to further lower its expectations for rate hikes, Treasury yields fall accordingly, and $BTC can regain volume and hold above $65k–$65.5k, then I’ll view this move as a continued rebound supported by liquidity. 📈If yields continue rising and $BTC falls back to $64k, the momentum behind this recovery will weaken significantly. This time, I won’t bet on the direction of the minutes in advance; I’ll only watch how the market prices them in. The macro environment is the switch, and price is the confirmation. Sometimes, $BTC ’s biggest catalyst really is nowhere in the crypto market. 👀🧭Bitcoin can enter with a small position first, while profits from falling U.S. stocks can be shifted over.

$BTC U.S. stocks have crashed

💫💫 BTC Capitulation Signals Are Emerging Bitcoin’s supply in profit has fallen to 51.4%, its lowest level in three years, meaning 48.6% of BTC is currently held at a loss. According to CryptoQuant, profit levels below 55% have historically been associated with periods of capitulation and reaccumulation. A similar setup occurred in early 2023, when Bitcoin traded around $16,000–$20,000. However, analysts caution against trying to call the exact bottom. Accumulation phases can last much longer than expected before a sustained recovery begins. #GateEventPointsSystemLaunched $BTC ‌