Bitcoin

The price of Bitcoin is about to break out and enter a new, possibly significant phase. A new CME gap has emerged after a major drop in the price of BTC. The expected interest rate cut by the Federal Reserve may cause a ripple effect in the market. In a video on <a href="https://www.youtube.com/watch?v&#61;TTlkWDpk4Ds" rel="noopener noreferrer nofollow">YouTube</a> on Monday, Crypto Rover suggests that the next 48 hours would be crucial for the BTC price.CME Gap InsightsAccording to analyst findings, the recent Bitcoin price correction has created a CME gap. Traditionally, 90% of these gaps are closed within the first two days. This gap suggests a 2-3% potential upside, leading to speculation that <a href="https://cryptotale.org/bitcoin-price-and-u-s-cpi-show-strong-correlation-in-2024/" rel="noopener noreferrer nofollow">Bitcoin</a> is likely to rise soon. Although Bitcoin has been declining in the past few days, it is still trading in an uptrend, as evident from higher lows and higher highs.The cut in interest rates by the Federal Reserve by 50 basis points, which is expected later this year, may greatly affect the <a href="https://cryptotale.org/bitcoin-reserve-drop-signals-possible-price-surge-an-analysis/" rel="noopener noreferrer nofollow">Bitcoin market</a>. This is similar to other instances that have been realized whereby Bitcoin would go on a bull run after a rate cut. Given that this cut has a 61% probability, the markets are waiting to see if history will repeat itself and create another buying opportunity.Related:<a href="https://cryptotale.org/bitcoin-sentiment-soars-as-blackrock-calls-it-a-global-hedge/" rel="noopener noreferrer nofollow">https://cryptotale.org/bitcoin-sentiment-soars-as-blackrock-calls-it-a-global-hedge/</a>Tether’s Market InfluenceRover also notes that Tether recently printed $1 billion worth of tokens, which may show that demand is rising beyond the crypto industry. This is expected to create more buying pressure on Bitcoin and will be another market strength signal. The analyst considers this a positive sign amidst the prevailing market volatility, which indicates strong demand for Bitcoin.<a href="https://cryptotale.org/bitcoins-next-move-cme-gap-and-fed-rate-cut-in-focus/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin’s Next Move: CME Gap And Fed Rate Cut In Focus

CryptoTale

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