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 đ„đ„
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 Bitcoinâs
BTC tickers down $59,343 price might fall if the $61,000 support level fails.
Ultimately, the recent weakness in Bitcoinâs 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
What is your opinion About BTC next move ???
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I am waiting for your response đ
