With the opening of Asian markets today, the Bitcoin (BTC) price quickly surpassed the $60,000 level and is currently trading at $60,500. The daily peak of the cryptocurrency was $61,400. BTC closing above $60,000 is considered a promising situation for investors. How do analysts interpret the current situation?$BTC

With the recovery in stock markets, Bitcoin has once again surpassed the $60,000 level. This week, with important statements by Fed Chair Powell, many important information will be obtained about the state of the global economy and its future. The decline in inflation and the weakening of labor markets may increase global recession concerns and force authorities to take a more dovish stance. Many central banks made their first interest rate cuts ahead of the Fed. Goldman Sachs states that customer demand reached record levels and risk appetite strengthened after these declines. QCP experts, on the other hand, drew attention to the potential for BTC to rise to higher levels.

Historical data shows that stock markets usually rally after the Jackson Hole symposium. It seems possible that the Bitcoin price, which has been under pressure for a long time, could experience an upward breakout with this wind behind it.

BTC and Crypto Predictions

The critical resistance point is at $70,000, and BTC is currently below that level. For altcoin investors, prices near $70,000 could be welcome, considering the cryptocurrencies have lost significant value following recent declines. Cryptocurrency analyst Mark Cullen stated in his latest assessment:

“BTC broke through the $59,500 level, bringing liquidity to weekend highs and reaching the upper trendline. Can BTC hold the $60K level and make a move towards the low to mid $60K early August highs?”

Rekt Capital has been repeating the same forecast for a long time. The analyst reiterated his expectation of a rally by the end of September:

“Bitcoin is trying to confirm that it has reclaimed the Channel Bottom support. A weekly close above the Channel Bottom would be a bullish sign.”

According to analysts' evaluations, the highlights for investors are:

  • BTC staying above $60,000 is a promising development.

  • Along with the stock markets, BTC also has the potential to rally.

  • Falling inflation and interest rate cuts carry positive signals for BTC.


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