Bitcoin Holds Above $38K as Traders Brace for Price Swings from Whales and Fed Speech
-
Bitcoin price held momentum above $38,000 on Nov. 29 as analysts warned of potential market corrections from large traders.
-
Keith Alan cautioned traders about upcoming "whale games" where large holders could dump BTC and leave late long positions stranded.
-
Jerome Powell's upcoming speech on Dec. 1 could provide a catalyst to push Bitcoin past $40,000, but whales may sell into any rally.
-
There is significant sell-side liquidity around $38,500 that Bitcoin has yet to challenge in its uptrend.
-
Bill Ackman predicts the Fed could pivot and start cutting rates as early as Q1 2024 rather than later to avoid a hard economic landing.