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- 💥 Gate Square Event: #PostToWinPIGGY 💥
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Click to apply now 👉 - 📈 Market Insights Weekly: Weekly Forecast Challenge
This Week’s Theme: #WillBTCHit120K
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#Bitcoin Boosts Toward $113,000 as Fed Rate Decision Approaches 🌟
Bitcoin continues to demonstrate strong momentum, edging towards new local highs as it breaks through key resistance levels. With the potential for a rate cut from the US Federal Reserve next week bolstering risk appetite, traders remain optimistic about further upside in the cryptocurrency markets. This week's price action highlights macroeconomic influences shaping Bitcoin's trajectory amid widespread enthusiasm in the DeFi, NFTs, and broader blockchain sectors.
Bitcoin approaches $112,000 resistance, signaling ongoing bullish momentum.
Market traders eye potential new highs amid increased volatility at weekly close. The US Federal Reserve is widely expected to implement a rate cut next week, boosting risk assets.
Bitcoin (BTC) briefly challenged the $112,000 mark into Sunday's weekly close, sparking hopes of new local peaks among traders. The cryptocurrency's recent price momentum has been driven by a combination of favorable macroeconomic data and technical breakout signals, with many analysts anticipating further gains.
📈BTC/USD one-hour chart.
Bitcoin eyes traders' targets in fresh volatility Weekend data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin has been trading within a range, with a late-week rebound aiding bulls in pushing prices higher within this zone. Investors responded positively to the recent US inflation data,
TradingView indicated that Bitcoin has been trading within a range, with a late-week rebound aiding bulls in pushing prices higher within this zone. Investors responded positively to the recent US inflation data, which pointed towards easing inflation pressures potential catalyst for the Fed to consider further rate cuts.
Market participants are closely watching the weekly close, as this often accompanies increased volatility and can signal significant trend shifts. Notably, traders and analysts have set their sights on the $112,000 resistance, viewing a decisive breakout as a possible trigger for new milestones.
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