Bitcoin takes off when the Fed levels
2024-11-01

Today, BTCUSDT tends to increase with this currency currently fluctuating around $ 69,400.

The market predicts the Federal Reserve may temporarily suspend the interest rate increase cycle, capable of weakening the dollar and promote the attraction of Bitcoin as an alternative asset. In addition, the increasing investment of organizations in Bitcoin has contributed to the positive motivation for the cryptocurrency market.

Technical analysis: BTCUSDT is currently checking the trend of increasing trend at a support level around $ 69,500. If the price is held on this trend and surpasses EMA 34 and EMA 89 (currently $ 70,765 and $ 70,768), the price increase will be strengthened. The next goal may be in the range of $ 72,000 - $ 73,000.