🔵 Bitcoin’s price may face significant downward pressure ahead of tomorrow’s Federal Reserve (Fed) interest rate decision.
🔵 Following the recent loss of key support at the $60,000 level, the cryptocurrency may experience substantial fluctuations. Analysts at Bitfinex note that volatility will depend on whether the Fed reduces rates by 25 or 50 basis points. Sharp price movements are expected based on the regulator’s decision.
🔵 Despite the recent loss of support, many experts believe Bitcoin has reached a bottom around $52,000. If the rate is lowered, this could trigger a three-month price increase, particularly considering historically bullish months — October, November, and December.
🔵 Overall, the coming days will be critical for Bitcoin in the financial market.