Shiba

Bitcoin

Arthur

Shiba Inu

The Bitcoin price rose 1% in the last 24 hours <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">to trade at $59,234</a> as of 00:49 a.m. EST despite trading volume dropping 16% to $23.8 billion.
The Federal Reserve is on the verge of cutting interest rates, following the European Central Bank (ECB), the Bank of England, and the People’s Bank of China. There is now a 76% chance that the Fed will cut interest rates by 0.25% points this month.
Arthur Hayes, co-founder and former CEO of BitMEX, has shared his reasons why the Fed’s interest rate cuts may not significantly affect the Bitcoin price.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 My theory on why Fed rate cuts aren't going to plan.
 Since JAYPOW annc Sept rate cut at J-Hole, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> down 10%, y? I thot rate cuts were good for risk assets.
 RRP pays 5.3% no T-bill under 1-yr maturity pays more. MMF will move money from T-bill -&gt; RRP which is $ liq -ve.
 Since…
 — Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1830554303817273823?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 2, 2024</a>
</blockquote>
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Since Jerome Powell, the Fed Chair, confirmed a rate cut in September on August 23, BTC has declined.
That’sbecause big money market funds are moving cash from Treasury bills, which pay just 4.38% interest, to reverse repurchase agreements, which pay 5.3%, instead of putting it into risk assets like crypto, he said.
<h2 id="bitcoin-price-aims-for-a-rebound">Bitcoin Price Aims For A Rebound</h2>
In the last week, the Bitcoin price has been on a downtrend, as the bears capitalized on the rounding top pattern to prompt a bearish trend. BTC has been trading within the falling channel pattern, data from <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">GeckoTerminal</a> shows.
The BTC/USD, 4-hour chart analysis, shows that Bitcoin’s price is poised for a rebound as it trades within the upper boundary of the falling channel.
However, the Bitcoin price still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), coinciding with the current downtrend.
The Relative Strength Index (RSI) also trades on an uptrend, currently at 52, and shows signs of an uptrend, showing that buyers have the upper hand.
Moreover, the Moving Average Convergence Divergence (MACD) is moving up towards the neutral zone, showing that BTC is currently on positive momentum.
According to BTC price analysis, the bulls are beginning to put some pressure on the token as it soars towards the upper boundary. If the trend continues, BTC could soar, as the bulls target $65,000.
<figure id="attachment_572433" aria-describedby="caption-attachment-572433" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-572433" src="https://insidebitcoins.com/wp-content/uploads/2024/09/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-09-03_10-26-32.png" alt="Bitcoin Price Chart Analysis Source: GeckoTerminal.com" width="1254" height="508" srcset="https://insidebitcoins.com/wp-content/uploads/2024/09/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-09-03_10-26-32.png 1254w, https://insidebitcoins.com/wp-content/uploads/2024/09/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-09-03_10-26-32-300x122.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/09/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-09-03_10-26-32-1024x415.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/09/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-09-03_10-26-32-768x311.png 768w" sizes="(max-width: 1254px) 100vw, 1254px">
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 BTCUSD Chart Analysis Source: GeckoTerminal.com
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However, if the bears exert pressure at this level, BTC could plunge back to the $56,000 support zone, which acts as a cushion against downward pressure.
Meanwhile, traders are piling into a Shiba Inu 2.0 ICO called <a href="https://insidebitcoins.com/visit/shibashootout" rel="noopener noreferrer nofollow">Shiba Shootout (SHIBASHOOT)</a>.
According to the crypto channel 99Bitcoins, with more than 706k subscribers, investors who buy $SHIBASHOOT can earn “insane rewards.“
<iframe title="This Shiba Inu Coin Meme Is Offering Insane Rewards! Do Not Miss Shiba Shootout!" width="640" height="360" src="https://www.youtube.com/embed/AuZH1yAVdoE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="shiba-shootout-presale-blasts-past-1-million-best-alternative-to-buy-now">Shiba Shootout Presale Blasts Past $1 Million, Best Alternative To Buy Now?</h2>
Shiba Shootout isn’t cooling its peacemaker barrel anytime soon, as its presale hits the bullseye with $1 million raised and counting.
The project draws its inspiration from the legendary meme coin titan Shiba Inu and takes its token holders on a journey into the crypto Wild West.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Saddle up! <a href="https://twitter.com/hashtag/ShibaShootout?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ShibaShootout</a> is more than a <a href="https://twitter.com/hashtag/memecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#memecoin</a> it's a Wild West crypto adventure! 🐾💥
 Join Marshal Shiba &amp; the Sharpshooters in Shiba Gulch for fun and excitement. 🤠🚀 <a href="https://t.co/a3BFVx7u42" rel="noopener noreferrer nofollow">pic.twitter.com/a3BFVx7u42</a>
 — shibashootout (@shibashootout) <a href="https://twitter.com/shibashootout/status/1807724757753745843?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
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The project goes beyond the conventional limits of meme coins, taking the holder on a captivating adventure filled with creativity, strategic gameplay, and the allure of a cowboy’s high-stakes showdown.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Master <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> strategy with <a href="https://twitter.com/hashtag/Shiba?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shiba</a> cowboys in thrilling duels for big rewards! 🌟 Join the adventure!
 Sign up now to get your free $SHIBASHOOT tokens!
 Jump in the fun! 🚀 <a href="https://t.co/jCeu7XMBqR" rel="noopener noreferrer nofollow">https://t.co/jCeu7XMBqR</a> <a href="https://t.co/YjlGaaluBT" rel="noopener noreferrer nofollow">pic.twitter.com/YjlGaaluBT</a>
 — shibashootout (@shibashootout) <a href="https://twitter.com/shibashootout/status/1806634436852597038?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 28, 2024</a>
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The game is built around the town of Shiba Gulch, a bustling digital settlement that is a favorite with Shiba lovers who come together to challenge each other.
Its mobile game Shiba Sharpshooter has already amassed over 1,000 downloads on the Google Play Store, with a Web3 app launching soon.
Apart from P2E crypto gaming in Shiba Gulch, $SHIBASHOOT holders can also easily earn passively through <a href="https://insidebitcoins.com/visit/shibashootout" rel="noopener noreferrer nofollow">the platform’s staking mechanism,</a> which offers 879% in annual rewards.
If you are interested in participating in the presale, you can buy the token for $0.0201. But don’t wait too long as the price will increase in less than six days.
<a href="https://insidebitcoins.com/visit/shibashootout" rel="noopener noreferrer nofollow">You can buy SHIBASHOOT tokens on the official website here</a> using ETH, BNB, USDT, or a bank card.
<h2 id="related-news">Related News</h2>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/5-top-crypto-presales-2024-unveiling-most-anticipated-calsona-gxcce/" rel="noopener noreferrer nofollow">5 Top Crypto Presales 2024: Unveiling the Most Anticipated Opportunities! 🚀💰</a></li>
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Bitcoin Price Prediction: As Arthur Hayes Explains Why Fed Rate Cuts Aren’t Boosting BTC, Bulls Flock To Buy This SHIB 2.0

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Inside Bitcoins

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