#ReboundRally
Historically, Bitcoin $BTC tends to record an average increase of 2.8% in the 51st week. However, this year, Bitcoin is expected to decline by 11%. This shows that the BTC price movement is still unstable and requires further monitoring.
*Potential Rebound*
Bitcoin's price today shows a steady increase, with the opening price at $98,203.01 and closing at $99,429.60, up 0.8%. Meanwhile, based on data from Finance API, the current BTC price is at $98,958.27, up 0.77% from the previous price.
*Influencing Factors*
Some factors that affect the potential for Bitcoin's rebound today are:
-Interest Rate Cut: The Federal Reserve lowered its benchmark interest rate by 25 basis points, to 4.5%, the third cut this year.
-Inflation: Inflation is still above the Bank of England's 2% target, but recent data shows a slowdown in economic activity.
- Crypto Market Performance: The crypto market corrected following the FED's decision, but bullish sentiment remained dominant despite fluctuating prices throughout the week.
*Analyst Projections*
Bitcoin is expected to remain stable around $100,000, with positive long-term sentiment despite short-term fluctuations.
However, it is important to remember that the crypto market is highly volatile, and sudden price reversals can occur.
DYOR
