BTC Price Analysis: Selling Pressure Resumes Post-Fed Rate Decision
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Following the US Federal Reserve's fifth interest rate decision, the BTC price exhibited low volatility. During Jerome Powell's speech, no significant movements were observed in Bitcoin's value. However, a slight decline persisted, reflecting ongoing bearish sentiment in the market.
The Federal Reserve chose to keep interest rates steady for July 2024. Despite this lack of change, Bitcoin's price did not experience an upward boost. Instead, selling pressure resumed, indicating a continuation of bearish trends.
Investors seemed cautious, reacting to the Fed's decision with minimal trading activity. The market's focus remains on broader economic indicators and future Fed decisions, anticipating their potential impact on cryptocurrency values.
Source : coingape.com ↗
