Bitcoin's (BTC) Price Expected to Rise Following Increase in 'Buy the Dip' Demand

Quick Summary:

The Bitcoin (BTC) price has come under strong selling pressure a day before the FOMC meeting begins on Wednesday, May 1.

As of press time, Bitcoin is trading at 5.4% down $60,189 with a market cap of $1.19 trillion.

However, Martinez cautioned investors to be vigilant, suggesting that a sustained close below the 100-day EMA could potentially indicate a downward movement toward the 200-day EMA, which is at the $52,000 level.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaHong KongUnited States

Topics: Bitcoin price correction 24/7 Cryptocurrency News Bitcoin Price Analysis BTC price analysis Bitcoin price prediction Bitcoin News Bitcoin Price Drop

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-01 @ 12:43:53 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 395 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20844982

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