Republican

Reserve

Cryptocurrency

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-shape-expectations-as-cryptocurrency-market-experiences-fluctuations/" data-wpel-link="internal">Investors Shape Expectations as Cryptocurrency Market Experiences Fluctuations</a><br></p>
<p style="text-align: justify">Recent fluctuations in the <a href="https://en.coin-turk.com/cryptocurrency-market-outlook-for-february-price-predictions-for-bitcoin-sol-xrp-and-avax/" data-wpel-link="internal">cryptocurrency market</a> are reshaping investors’ expectations. Although Bitcoin’s rapid recovery from levels below $50,000 last week has led many analysts to be optimistic, some experts warn of a potential short-term decline. FxPro’s senior market analyst <strong>Alex Kuptsikevich</strong> notes that the likelihood of Bitcoin experiencing a $5,000 drop is higher than a similar increase.</p> 
<h2 style="text-align: justify" id="seller-pressure-increases">Seller Pressure Increases</h2> 
<p style="text-align: justify"><strong>Bitcoin</strong> attempted to rise above the $60,000 level but failed to break this resistance, indicating sellers’ dominance in the market.</p> 
<p style="text-align: justify">Kuptsikevich states that after the bearish signal known as the “death cross,” formed by the intersection of the 50 and 200-day simple moving averages (SMA), Bitcoin could not sustain its gains, confirming the sellers’ dominance.</p> 
<h2 style="text-align: justify" id="rsi-index-signals-decline">RSI Index Signals Decline</h2> 
<p style="text-align: justify">The 14-day relative strength index (RSI) signaled a loss of momentum by exiting the oversold zone. This could indicate a new wave of price declines. The RSI index is a momentum oscillator that measures the speed and change of price movements.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-379383 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSD_2024-08-13_15-30-50.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">After the decline last Monday, the RSI stayed below 30, indicating oversold conditions, which led to a pause in the downtrend and a price recovery. However, Kuptsikevich is still skeptical about the sustainability of this recovery.</p> 
<h2 style="text-align: justify" id="inflation-data-will-be-decisive">Inflation Data Will Be Decisive</h2> 
<p style="text-align: justify">The upcoming release of the US July consumer price index <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> could be decisive for Bitcoin’s short-term price movements. If inflation data exceeds expectations, it could dash hopes for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cuts by the US Federal Reserve (Fed) and trigger a new wave of selling in Bitcoin.</p> 
<p style="text-align: justify">Last week, Bitcoin rose above the $60,000 level but failed to hold these levels, and the recovery process seems to have stalled. Expectations regarding the US elections and the approach to cryptocurrencies are expected to have a significant impact on the market.</p> 
<p style="text-align: justify">Particularly, the uncertainty in the cryptocurrency market is heightened by Republican candidate Donald Trump’s lagging behind his opponent Kamala Harris, who has made headlines with his pro-cryptocurrency statements.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-shape-expectations-as-cryptocurrency-market-experiences-fluctuations/" data-wpel-link="internal">Investors Shape Expectations as Cryptocurrency Market Experiences Fluctuations</a></h5>
<p>The post <a href="https://en.coin-turk.com/investors-shape-expectations-as-cryptocurrency-market-experiences-fluctuations/" data-wpel-link="internal">Investors Shape Expectations as Cryptocurrency Market Experiences Fluctuations</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Investors Shape Expectations as Cryptocurrency Market Experiences Fluctuations

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