Bitcoin (BTC) price rallied over 8 percent last week to close above $63,000, influenced by the U.S. Federal Reserve's recent rate cut. This economic shift has been a significant factor in Bitcoin's recent performance.
Furthermore, Bitcoin has successfully rebounded from the 50-week Moving Average (MA), a positive technical indicator for the cryptocurrency. The current price action sees Bitcoin retesting the crucial resistance level above $64,000.
The notable rebound in Bitcoin price over the past two weeks has sparked interest and speculation about its potential future movements. Observers are keenly watching to see if Bitcoin can surpass this resistance level heading towards December 2024.
