$BTC Avoid trade in September because it’s a bearish month and no good records but after this moth again everything will be better and best inshaAllah best of luck ❤️❤️
Today is a bullish day for all crypto investors so keep your eyes at your favourite coins and start trade shortly.
Try to stay on a safe side today BTC will go up and cross 61 thousand level.
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Major cryptocurrencies declined on Tuesday amid profit-taking, impacting Bitcoin (BTC), Ethereum (ETH), and Solana. The global cryptocurrency market cap decreased by 1.8%, settling around $2.2 trillion over the past 24 hours.
Other major cryptocurrencies also saw declines, including BNB (-1.8%), Solana (-0.9%), XRP (-0.9%), Dogecoin (-2.7%), Tron (-2.2%), Chainlink (-3.9%), Polkadot (-2.6%), and Toncoin (-4.11%). The volume of all stablecoins is currently $61.7 billion, making up 92.98% of the total crypto market's 24-hour volume, according to CoinMarketCap.
Over the past 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, dropped to $1.242 trillion, with Bitcoin's dominance standing at 56.26%, per CoinMarketCap. BTC's 24-hour trading volume increased by 43.6% to $28.15 billion.
Bitcoin has dropped below $63,000 after previously reaching above $65,000. While the short-term outlook appears bearish, the longer-term trend for Bitcoin and the overall market remains positive."
(Disclaimer: The views expressed by experts are their own and do not necessarily reflect those of The Economic Times.)
Bitcoin experienced a 3.4% decline between Aug. 26 and Aug. 27, following a breach below the $63,500 support level, which had held for two days.
Technical Analysis 🔥🔥
1. This downturn can be partly attributed to deteriorating macroeconomic expectations but also reflects decreased activity on the Bitcoin network.
2.Traders are questioning whether these factors are fully priced in and how much further Bitcoin’s BTC tickers down $59,343 price might fall if the $61,000 support level fails.
Ultimately, the recent weakness in Bitcoin’s price can be attributed to the reduced likelihood of the US Fed fully implementing a 0.50% or 0.75% interest rate cut by year-end.
This increases investor risk aversion as inflationary pressures continue to concern the government, and onchain data points to lower network activity
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