Bitcoin is facing potential downward flag pressure. Can the Federal Reserve’s interest rate cut in September restore the $52,000 defense line?
As September approaches, Bitcoin prices have retreated to recent lows and are facing potential downward flag pressure, which may herald a further pullback to $52,000. It is worth noting that the market is currently paying close attention to the Federal Reserve’s interest rate cut plan in September, a move that may have a significant impact on Bitcoin prices. Rate cuts typically lead to a weaker dollar, which in turn supports risk assets like Bitcoin. However, investors still need to be wary of potential downside risks if technical pressure continues to increase. The next week will be a critical period for the market to wait and see. This analysis does not constitute investment advice, please properly manage risks