At the time of writing, the BTC price increased after Trump posted that he would make an ambitious promise regarding crypto. Trump cryptocurrencies It is difficult to predict what more he can say about the issue. Although the Fed has made many big statements, including holding BTC as a reserve, the king cryptocurrency does not care about this to the extent expected, as its voting rate has weakened somewhat in the polls.
Bitcoin (BTC)
US unemployment claims and GDP data are in. The data, which came as expected, is relatively good for crypto as it does not fuel recession concerns. If we remember the days when extremely bad growth figures also caused a decline in cryptocurrencies, we can better understand the positivity of today’s data. 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!
Markets, according to FedWatch data FedHe thinks that the Fed will make a 25bp cut in September. Powell also made statements in this direction and the strong downward revision of employment data was effective in this stance. The Fed is now entering the reduction route and has kept interest rates at the peak for over a year in order not to have to raise interest rates again.
QCP Capital analysts He wrote that with the interest rate cuts, liquidity will eventually flow into cryptocurrencies and that I can have good days in the last quarter. Material Indicators made an assessment of the liquidity changes and touched on his doubts about whether the rise will continue above $ 60,000.
Rekt Capital wrote the following;
“Retest continues to be successful as week progresses. Bitcoin has also been forming Higher Lows since early July.”
Investors evaluated the short selling opportunity after the $65,000 test. However, at some point, a big rise that will leave them out of short selling attempts needs to start as we see in historical data. This is not happening for now and when we see it, it will be a big turnaround and surprise everyone.
Will Bitcoin Rise?
Cryptocurrency analyst Jelle is still hopeful and thinks the price could reach $62,000 again. At this level, buyer liquidity is weakening and the point where the $65,000 test was not sustained after being made twice. Jelle wrote the following about the current situation;
“The environment remains predatory, meaning your best bet is to sit on your hands. Above $62,000 – it could turn into a stronger trending move again.”
If he can do it BTC He could make his third attempt this week for $65,000.
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.
