2024

Jerome Powell

Bitcoin

Frenzy

<p>The post <a href="https://coinpedia.org/news/bitcoin-news-is-btc-price-setting-up-for-major-rally-fed-rate-cut-sparks-frenzy/">Bitcoin News: Is BTC Price Setting Up for Major Rally? Fed Rate Cut Sparks Frenzy</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Following last week’s signal from <a href="https://coinpedia.org/news/fed-chair-powells-time-has-come-for-rate-cut-fuels-crypto-rally/" target="_blank" rel="noreferrer noopener">Fed chair Jerome Powell</a> of a possible interest rate cut before the end of this year, Bitcoin (BTC) bulls have regained momentum. After being trapped in a bearish outlook in the past four weeks, the flagship coin pumped over 10 percent last week to close slightly above $64k. As a result, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> continues to closely follow gold’s price action despite the fears of potential capitulation in August and September.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-demand-on-the-rise">Bitcoin Demand on the Rise</h2> 
<p>The demand for Bitcoin among institutional investors significantly rebounded in the past few days after registering low interest in the first few weeks of August. According to the latest market data, the US spot Bitcoin ETFs registered a net cash inflow of more than $550 million in the past two weeks, led by BlackRock’s IBIT and Fidelity’s FBTC.&nbsp;</p> 
<p>Despite the notable rise in Bitcoin demand from institutional investors, retail traders have not yet shown similar interest akin to previous bull cycles. However, the declining fear of further crypto capitulation could largely attract more retail traders ahead.</p> 
<p>Moreover, Bitcoin’s fear and greed index surged to 55 percent, denoting greed, as the underlying value jumped to $64k.</p> 
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   <p lang="en" dir="ltr">Retail interest is nowhere while sentiment is still at fear<br><br>Euphoria is about to explode when <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> smashes $100,000 <a href="https://t.co/B2YiFm9rMc">pic.twitter.com/B2YiFm9rMc</a></p>— Quinten | 048.eth (@QuintenFrancois) <a href="https://twitter.com/QuintenFrancois/status/1827407535894356354?ref_src=twsrc%5Etfw">August 24, 2024</a>
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<h2 class="wp-block-heading" id="h-what-next">What Next?</h2> 
<p>More than 115 days since the fourth Bitcoin halving happened, it is safe to assume that the highly anticipated parabolic rally is on the horizon. According to popular crypto analyst alias PlanB, Bitcoin price will peak in 2025 based on the stock-to-flow (S2F) model.</p> 
<p>From a technical standpoint, Bitcoin price has consistently closed above the daily 50 and 200 <a href="https://coinpedia.org/traders/what-is-moving-average-indicator/" target="_blank" rel="noreferrer noopener">Moving Averages</a> (MAs), despite their recent death cross. With the daily <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index</a> (RSI) above the 50 percent level again since the August 5 crash, the bulls have significantly regained control.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> closed just above its bull market support band <a href="https://t.co/d09mumB31n">pic.twitter.com/d09mumB31n</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1827859278016725095?ref_src=twsrc%5Etfw">August 26, 2024</a>
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<p>According to a popular crypto analyst Benjamin Cowen, Bitcoin price is yet to reach the peak of the current bull cycle compared to previous cycles. In this regard, the crypto analyst expects Bitcoin dominance to continue rising against altcoins before the anticipated reversal in 2025.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/us-backed-stablecoin-by-wyoming-pioneering-financial-innovation-in-2025/" target="_blank" rel="noreferrer noopener">US-Backed Stablecoin by Wyoming: Pioneering Financial Innovation in 2025</a></p>

Bitcoin News: Is BTC Price Setting Up for Major Rally? Fed Rate Cut Sparks Frenzy

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