The Bitcoin (BTC) price fell 5.5% between July 31 and August 1, falling to a two-week low of $62,498. This move comes as interest rate cut expectations in the US decline and Mt. It is connected to 47,000 BTC distributed from the Gox exchange. Traders are worried that Bitcoin price could retest the $57,000 support level, but derivatives markets are resilient and show no signs of stress.

On July 31, the US Federal Open Market Committee (FOMC) kept interest rates steady at 5.25%. Fed Chairman Jerome Powell expressed his confidence in the growth of gross domestic product and the rate of decline in inflation. This could support the possibility of a rate cut in September.

Mt. The transfer of approximately $3 billion worth of Bitcoin from Gox has raised concerns about a potential selloff. This contributed to the 5.5% decline in Bitcoin price.

Bitcoin derivatives markets show no signs of stress. Bitcoin futures premiums and options delta slope indicate that the market is neutral and professional traders do not expect further price corrections in the near term.

Share your opinions and analysis in the comments!