King crypto money The unit fell sharply after the US stock market opening, but it has once again exceeded $60,000. However, if previous movements are to be repeated, we may see the price decline as investors who are used to short selling strengthen their positions at these levels. At some point, the BTC price will have to surprisingly extend its rise and turn those looking for a short selling opportunity upside down.
Bitcoin Is Rising Again
Markets are increasingly bullish on rate cuts. Ahead of employment data and Fed minutes, 2024 estimates have been cut by 100bp. Powell On Friday, unlike his previous Jackson Hole speech, he must deliver an optimistic message about the global economy. The employment data, while dismissive of some Fed members, signals that the Fed is about to tighten too much. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
After many central banks, such as the EU and Canada, made their first interest rate cuts of the year, the Fed has been keeping interest rates at the peak for over a year. Data on inflation falling below 3 percent and unemployment rates reaching 4.3 percent show that there is no longer any room to escape the cut.
If BTC can close above $63,000, it could find support towards the $70,000 resistance.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
