đš Bitcoin Drops Below $61K Despite Dovish Fed Stance đ
Bitcoin (BTC) continues to face downward pressure, trading below $61,000 even after dovish comments from the Federal Reserve. The recent FOMC minutes released on October 9 revealed that a âsubstantial majorityâ of participants supported a 50 basis point cut in US interest rates, reducing the range to 4.75% to 5%.
Key Takeaways:
Market Reaction: Despite the Fedâs stance, BTC hasnât shown an immediate positive response. Is the market waiting for further signals? đ€
Interest Rates Impact: A rate cut typically supports risk assets, but market dynamics may be influencing Bitcoinâs price trajectory differently.
What do you think is next for Bitcoin? Will it find support or continue to dip? Share your thoughts below! đ
