Bitcoin Price Alert: Bitfinex Forecasts 20% Crash Post Rate Cut Decision

Quick Summary:

On Monday, the Bitcoin price fell as low as $57,100, continuing its decline from a one-month high of $65,000 on August 25th.

However, the US Federal Reserve’s (Fed) upcoming decision to cut interest rates could spell further trouble for the largest cryptocurrency on the market.

Moreover, the report highlights Bitcoin’s increasing correlation with traditional risk assets, such as the S&P 500, and suggests that its price movements will closely reflect broader macroeconomic conditions.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: HungaryChinaJapan

Topics: Bitcoin price alerts Bitcoin Price Analysis Crypto Bitcoin Crypto news Bbitcoin price analysis Bitcoin News Bitcoin price Btc Btcusd BTCUSDT Bitcoin news Btc price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-03 @ 08:30:20 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 532 words

Reading Time: 3 minutes read

Sentences: 36 lines

Sentence Length: 15 words per sentence (average)

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

Copyright Owner: © Bitcoinist

News ID: 22343863

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 18 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #105

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