Bitcoin

Time

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-61000-and-signals-potential-uptrend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surpasses $61,000 and Signals Potential Uptrend</a> 
Today, <a href="https://en.coin-turk.com/how-does-bitcoins-recent-dip-impact-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> might finally break upwards. The price has surpassed $61,000 again. It’s too early to celebrate as we need a weekly close above $63,000 for a true reversal. Time will tell if those who strengthened short positions above $60,000 were right again.
<h2 style="text-align: justify" id="bitcoin-rises-again">Bitcoin Rises Again</h2>
BTC has been making short sellers happy with every upward attempt for weeks. However, things might change now. The price has surpassed $61,000. Moreover, this rise is linked to the weakening DXY and the expected easing of Fed policy.
The details of the Fed minutes we reported last minute are reminiscent of those from January 2022. Back then, strong signals for monetary tightening were given, accelerating market declines. The only difference today is that those strong signals are now for easing.
<img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-382005" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-21_22-09-29.png" alt="" width="1815" height="836">
Although the price has surpassed $61,000, it needs to close at current levels and accelerate during the Asian market opening. If we see a weekly close above $63,000, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> waiting for a drop might be disappointed. Altcoins have started to rise rapidly. If BTC remains strong, double-digit increases in altcoins wouldn’t be surprising.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-61000-and-signals-potential-uptrend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surpasses $61,000 and Signals Potential Uptrend</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-surpasses-61000-and-signals-potential-uptrend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surpasses $61,000 and Signals Potential Uptrend</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Bitcoin Surpasses $61,000 and Signals Potential Uptrend

Table of Contents

COINTURK NEWS

Other articles published on Aug 21, 2024

Bitcoin Price Surpasses $60,000 as Fed Minutes Indicate Economic Relief

Watch Out This Week! Correction Warning for Bitcoin (BTC) and Ethereum (ETH) Came from the Analys...

Cryptos Ready for Unexpected Gains This Week – Top Coins to Watch

$ADASOL & $MYRO: The Solana Founders Dogs Unleashed!

Nigeria to Tax Crypto Transactions, Binance Under Scrutiny

Bitcoin Demand Plummets as Institutional Purchases Slow Down

Join our free newsletter for daily crypto updates!