The Bitcoin price has encountered substantial resistance around the $100,000 mark. Investors are hopeful that an anticipated Fed rate cut in December will boost the cryptocurrency's value. According to the CME FedWatch tool, there is a 72.5% chance that interest rates will be reduced during the Federal Open Market Committee (FOMC) meeting set for December 18.
Many market analysts are closely monitoring these developments, given the potential impact of such a monetary policy shift on Bitcoin and other cryptocurrencies. A rate cut could provide a much-needed stimulus to break through the current resistance point.
This anticipated move is generating considerable attention and speculation in the crypto community, as traders and investors aim to capitalize on the opportunity for further growth in Bitcoin's market value.
