Bitcoin experienced a brief relief bounce following the Federal Open Market Committee (FOMC) minutes from July, which hinted at possible rate cuts by some policymakers. This led to a short-lived rally where Bitcoin briefly tested $61,000. However, the overall sentiment in the market has remained subdued.
August marks the fifth consecutive month of price consolidation for Bitcoin, leading to increased speculation about whether the cryptocurrency can achieve a new ATH anytime soon.·
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