Bitcoin is pinned below $65K but several market structure-altering factors are at play
Bitcoin must overcome resistance in the $64,000 to $66,000 zone before a new set of growth catalysts initiate the path to six-figure BTC price territory.
This week was a real belt-buster on so many levels. Federal Reserve Chair Jerome Powell finally gave a portion of the market what it wanted by tossing out a 50 basis point interest rate cut.
The S&P 500 hit another all-time high and gold remains in up-only mode.
In response to the policy shift and other factors, Bitcoin (BTC) broke out and found strength up to $64,133. Even with the long-awaited Fed policy shift confirmed, Bitcoin’s day-to-day price action has yet to deviate from its six-month norm.
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Author: Big Smokey
