đ Bitcoin Price Update: A Notable Decline Amid Key Events
Bitcoin (BTC) has recently faced a price decline, dropping to $99,279, down by -5.8% in the past 24 hours. The dip follows several impactful developments:
1ïžâŁ Profit-Taking Pressure: After reaching a peak of $108,000, many investors began selling to lock in gains, creating downward pressure.
2ïžâŁ Federal Reserve's Decision: A recent 0.25% interest rate cut by the U.S. Federal Reserve, coupled with cautious 2025 projections, has sparked uncertainty.
3ïžâŁ Regulatory Sentiments: Fed Chair Jerome Powell dismissed the possibility of the central bank holding Bitcoin reserves, adding to the market's concerns.
đĄ What This Means:
Reduced liquidity on exchanges due to significant withdrawals.
Potentially higher volatility in the coming weeks.
đ Analysts suggest keeping an eye on institutional moves and macroeconomic policies as the market reacts to these developments.
Do you think BTC will rebound, or are we heading into a deeper correction? Share your thoughts! đŹ