Bitcoin (BTC) $58,845 price At the time of writing, it surpassed $ 60,000 again and reached $ 60,400. Although this is good news for altcoins, we have witnessed that similar movements seen before the Fed’s interest rate decision can quickly reverse. So what do the experts say? Will Bitcoin’s rise continue?
Cryptocurrencies Are Rising
BTC With the increase in price, altcoins increased by 3 percent. Assets such as DOGE, ETH, SHIB turned green again. The expectation that the Fed will make a 50bp cut is triggering short-term volatility. And the 3-year interest rate route estimates to be announced on Wednesday will be decisive for medium-term performance. The S&P 500 broke a new all-time record today with 5,699.
King crypto money The key level to watch out for is $61,700, and with closings above it, bulls could target $63,000 again. Investors should be on the alert as the acceleration of the peak-driven sell-off in the US stock markets in the coming minutes could turn things upside down in the crypto.
The analyst known by the pseudonym AskCryptoWealth shared the chart above, drawing attention to the risk of volatility in the short term today. The analyst’s target is $66,342, above which he hopes the rally will accelerate.
Economists are focusing on the message about the health of the U.S. economy ahead of Wednesday’s interest rate decision.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
