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Bitcoin

<p>Bitcoin (<a href="https://www.cryptopolitan.com/whale-mark-a-turning-point-for-bitcoins/" rel="noopener noreferrer nofollow">BTC</a>) displayed resilience in the face of market uncertainties, with old all-time highs at $69,000 shaping up as tentative support. The digital asset gained approximately $1,000 during the latter part of the day, buoyed by remarks from Jerome Powell, Chair of the United States Federal Reserve.</p>
<p>In an interview at the Macroeconomics and Monetary Policy Conference in San Francisco, Powell struck a cautious tone on inflation and the economic outlook. He <a href="https://www.youtube.com/watch" rel="noopener noreferrer nofollow" target="_blank">emphasized</a> the Fed’s reluctance to rush into interest rate cuts, citing robust economic growth and a strong labor market. Powell’s comments reassured investors, providing support for risk assets like Bitcoin.</p>
<h2 class="wp-block-heading" id="market-anticipates-interest-rate-cut">Market anticipates interest rate cut</h2>
<p>Speculation about a potential interest rate cut heightened, with June emerging as the favored month for such a move. According to data from CME Group’s FedWatch Tool, there is a 61% probability of a 0.25% reduction at the June Federal Open Market Committee (FOMC) meeting. The cautious approach outlined by Powell underscores the Fed’s commitment to careful deliberation before any policy adjustments.</p>
<p>March 29 saw the release of the latest Personal Consumption Expenditures (PCE) Index, a key inflation gauge closely monitored by the Fed. The index met expectations, registering at 2.5%. This data reaffirmed the Fed’s assessment of inflationary pressures, further shaping market expectations regarding future monetary policy decisions.</p>
<h2 class="wp-block-heading" id="technical-analysis-points-to-positive-outlook">Technical analysis points to positive outlook</h2>
<p>Bitcoin’s price action remains under scrutiny, with attention focused on weekly, monthly, and quarterly candle closes. Analysts highlight $69,000 as a critical level, with a close above signaling a potential breakout for Bitcoin. On-chain signals, including the moving average convergence/divergence (MACD) oscillator, also provide positive indications for BTC’s price trajectory.</p>
<p>Traders closely monitor the MACD oscillator on daily timeframes, which is positioned for a potential cross-up. This technical indicator suggests a bullish momentum shift, coinciding with the possibility of Bitcoin surpassing its all-time highs near $74,000. Positive on-chain signals complement market sentiment, indicating growing confidence among investors.</p>

Bitcoin shows resilience as all-time highs form tentative support

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