đą Bitcoin's rollercoaster ride continues! Despite a turbulent start to the month, with BTC dropping over 10.50% to around $57,000, there's a silver lining. đ€ïž Key indicators suggest the bulls might still be in the game! A growing divergence between falling prices and the rising relative strength index (RSI) hints at a potential price rebound. đ
Wall Street traders are also betting on a 72% chance of the Federal Reserve cutting interest rates in September. Lower rates could boost Bitcoin as traditional safe investments become less attractive. đ°
Meanwhile, inflows into U.S.-based Spot Bitcoin ETFs are back after two days of outflows. This could indicate a rising risk sentiment among Wall Street investors. đŠ
Finally, Bitcoin miner capitulation metrics are nearing levels seen during previous market bottoms. This could signal a potential bottom for BTC. đ
So, will Bitcoin bounce back? Share your thoughts below! đ Remember, investing is a game of risk and reward. Always do your research! đĄ