Bitcoin is in a shaky spot, sitting near $58,000 as macro factors from the U.S. Federal Reserve's upcoming interest rate decision and weak economic data from China keep traders on edge.
📉 Price Dip Alert: In the past few days, Bitcoin dropped 4.1%, erasing the gains made on Sept. 13, when it surged from $57,890 to $60,580 in less than 10 hours. This decline is leaving bulls cautious, with Bitcoin struggling to close above $62,000 for weeks. 😬
🌍 The Fed’s Impact on Bitcoin: What’s Next?
The Federal Open Market Committee (FOMC) will meet on Sept. 18, and there’s a lot of buzz around a potential interest rate cut. If the Fed slashes rates by 0.50%, it’s good news for risk-on markets, but if they play it safe and cut just 0.25%, it could be bad news for Bitcoin and other riskier assets. 👀
💸 Why? A smaller cut means higher borrowing costs for businesses and consumers, which could slow down hiring and spending, hurting corporate earnings and creating more challenges in the already fragile commercial real estate market.
But remember, in times of uncertainty, traders often flee to safety, like gold, cash, or US government bonds, which could add pressure on Bitcoin’s price. 😟
🐉 China’s Economic Struggles
Don’t forget China’s economy is also raising eyebrows. Retail sales in August grew only 2.1%, down from 2.7% the previous month, while industrial production rose by just 4.5%, dropping from 5.1%. This weak growth is another reason for the uncertainty around Bitcoin’s short-term trajectory. 😨
🔥 Dormant Whales Stir & SEC Tightens the Noose
📊 Recent on-chain activity shows a Bitcoin whale moved 211.3 BTC (around $12.7 million) after 9 years of dormancy. This sent ripples of fear among investors, with some interpreting it as a long-term holder cashing out. At the same time, regulatory pressures are mounting, with the SEC expanding its lawsuit against Binance, now labeling tokens like Axie Infinity and Filecoin as unregistered securities. The result? Sentiment is dipping lower. 😟
⚠️ Disclaimer: This content is for informational purposes only and should not be construed as financial advice. Do your own research before making any investment decisions.
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Changes on Telgram FAQ page
According to the report, some of those changes appear to be already taking effect as the company’s FAQ page has changed in the last 24 hours.
The response in the section “There’s illegal content on Telegram. How do I take it down?” is has reportedly changed.
Earlier, the Telegram’s response to this question read: “All Telegram chats and group chats are private amongst their participants. We do not process any requests related to them.”
Now, this response has been removed. Instead, it now says: "All Telegram apps have 'Report' buttons that let you flag illegal content for our moderators — in just a few taps.
On Telegram for Android, tap the message and select Report from the menu. On iOS, press and hold the message. On Telegram Desktop, Web or Telegram for macOS, right-click the message and select Report. Then choose an appropriate reason."
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Bernstein sees the price of Bitcoin reaching $150,000. In a note to clients this week, the company asked investors to buy bitcoin mining tools because the recent poor performance “may be the last window before the halving.”
As the cryptocurrency continues to rise, currently trading above $72,000, the company recalled the words of Satoshi Nakamoto, who told another forum member discussing Bitcoin in 2010 that, “If you don't understand it, I don't have time to analyze it.” So try to be convinced.”