Bitcoin - Review from 19.09.2024

Financial and commodity markets analytics


Against the backdrop of the decision made by the US Federal Reserve to cut the benchmark interest rate and statements made by the Regulator about plans for further policy easing, bitcoin is developing an upward motion. We had previously written about the probability of this scenario and the preconditions for its implementation. The support zone below the $53,500 mark remains relevant. With the price growth, the nearest local resistance might be encountered in the $65,000 level area.