Bitcoin (BTC) saw minimal movement over the weekend as it held above the $115,000 mark. The flagship cryptocurrency reached $117,890 last week as buyers attempted to cross the $118,000 mark. However, it fell short of this level and fell to a low of $115,179 on Saturday.
Bitcoin (BTC) experienced a sharp decline on Friday after failing to surpass the resistance level around the $118,000 mark. The decline suggests bears are unlikely to give up their positions easily.
Bitcoin (BTC) fell below $116,000 as the 0.25 bps rate cut announced by the Federal Reserve failed to push cryptocurrency prices higher. The flagship cryptocurrency is down nearly 1% during the ongoing session, trading around $116,331.
Bitcoin (BTC) had a muted response to the Federal Reserve’s announcement of a 25-basis point interest rate cut as it fell to an intraday low of $114,724. However, the flagship cryptocurrency has rebounded to reclaim the $117,000 mark and is currently trading around $117,500.
Bitcoin (BTC) is holding on to the $115,000 price level despite volatility and a slight correction as the crucial Federal Open Market Committee (FOMC) meeting gets underway.
Bitcoin (BTC) lost momentum after reaching an intraday high of $116,802 during the ongoing session, with the price down 0.35% and trading around $114,800.
Bitcoin (BTC) Briefly crossed the $116,000 mark over the weekend, managing to hold above $115,000. Sentiment around the flagship cryptocurrency has turned positive in recent sessions, with expectations of a rate cut by the Federal Reserve growing.
Bitcoin (BTC) is consolidating above the $116,000 level as treasury firms turn their attention towards altcoins. Bitcoin treasury companies have seen a sharp decline in share prices as the initial euphoria subsides.
Bitcoin (BTC) registered a modest recovery over Wednesday and Thursday to cross the $115,000 level and settle at $115,540. However, it faces major overhead resistance above $116,000 but holds several key support levels below.
Bitcoin (BTC) surged past the $113,000 level on Wednesday, following the release of the August Producer Price Index (PPI) data. PPI data reinforced market expectations of a rate cut, boosting risk assets like BTC.
