Will Bitcoin Price Bottom at $50k Amid Growing Speculation of Fed Rate Cut?

Quick Summary:

Bitcoin price correction eased on the weekend as the buyers found suitable support at the $60000 psychological level.

This support, backed by the 200-day Exponential moving average, has sparked a temporary relief rally in the altcoin market.

This week, the cryptocurrency market witnessed a notable downfall attributed to a series of adverse developments affecting the broader market.

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Article Details

Author / Journalist: Sahil Mahadik

Category: Crypto

Markets: India

Topics: Bitcoin Price Analysis Price Analysis Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-04 @ 15:20:20 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 487 words

Reading Time: 3 minutes read

Sentences: 45 lines

Sentence Length: 11 words per sentence (average)

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

Copyright Owner: © CoinGape

News ID: 21917109

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 6 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #59

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