Bitcoin Price Decline Signals Key Technical Indicator Activation

Coin-Turk 11 months ago 1594

Following the Federal Reserve’s (Fed) interest rate cut, Bitcoin (BTC ($86,808.00)) $97,139 experienced a price decline that activated a critical indicator historically marking the end of price corrections.

Fed’s Rate Cut and Expectations

On Wednesday, the Fed reduced the benchmark borrowing cost as anticipated. However, it announced plans for only two rate cuts instead of the four expected in September for 2025.

The central bank emphasized its reluctance to participate in potential government plans for strategic BTC reserves.

Bitcoin’s Market Performance

In response to this decision, BTC fell over 8%, dropping to around $96,000 at one point. At the time of writing, the cryptocurrency was trading at approximately $97,500, reflecting nearly a 10% decline from the record high of $108,266 reached earlier this week.

These losses caused the 50-hour simple moving average (SMA) to drop below the 200-hour SMA, confirming...

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