 Can Bitcoin get a green monthly close above $64.3K? 
2024-08-28

Bitcoin’s summer lull could finally come to an end with a bullish breakout if it manages to close the month of August in the green.
To close August in the green, Bitcoin’s BTCUSD price needs a monthly close above $64,300, which would require an over 7% rally from the current $59,960.
While the monthly candle close is difficult to predict, Bitcoin’s recent price action is a positive sign, according to Bitfinex analysts, who told Cointelegraph:
Cointelegraph
Bitcoin price has been struggling to trade above the $60,000 psychological mark. The world’s first cryptocurrency is down over 12% on the monthly chart, according to Cointelegraph data.
Bitcoin struggles to overcome $63,900 resistance 
Analysts warned that the lack of liquidity characteristic of the summer could carry on into September and bring downside volatility.
Thus, Bitcoin will struggle to overcome the $63,900 resistance, according to Bitfinex Analysts, who added:
Cointelegraph
Bitcoin’s average returns for the month of September were negative at -4.78% since 2013, according to analysts.
Lower interest rates could trigger Bitcoin bull market in early 2025: Nexo 
Bitcoin price remains range-bound between $58,000 and $64,000 amid the summer illiquidity.
However, a period of lower interest rates could trigger Bitcoin’s parabolic run, according to Kristian Hapalampiev, the structured products lead at Nexo.
He told Cointelegraph:
Investors are increasingly expecting an interest rate cut from the Federal Reserve at its upcoming meeting on Sept. 18.Cointelegraph
According to the latest data from the CME FedWatch tool, the odds of a 25 basis-point rate cut currently stand at 65.5%, while the odds of a 50 basis-point rate cut are at 34.5%.
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