Analysts:Bitcoin to Accelerate After Breaking $65,200 Resistance
On September 26, CoinDesk reported that as the Federal Reserve cut the federal funds rate by 50 basis points a week ago, the debate intensified as to whether the cut represented a normalization of an overly tight monetary policy designed to curb inflation or a preparation for an impending economic downturn.
Risk assets, including bitcoin and torrents, rallied after the Fed's decision, suggesting that markets viewed the rate cut as a normalization move. Some analysts are predicting that bitcoin's rise will accelerate once it breaks above the $65,200 resistance level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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