Bitcoin Price Targets $60K Ahead of FED Meeting: Will Interest Rate Hike Fuel the Rally?

Quick Summary:

Traders are eagerly eyeing the $60,000 area, which is seen as a critical resistance point.

If Bitcoin holds above this, it could signal stronger upward momentum, further fueling optimism in the market.

The probability of a 25-basis-point rate cut on September 18 has surged to 85%, up from 66% the previous day, according to CME FedWatch.

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Article Details

Author / Journalist: Qadir AK

Category: Crypto

Markets: United StatesBrazil

Topics: Price Analysis Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 10:36:24 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 13 words per sentence (average)

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

Copyright Owner: © Coinpedia

News ID: 22469091

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About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 17 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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Publication Timezone: GMT +8:00

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Publisher ID: #112

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