Cryptos Steady as BTC Hits Key Fib Level, Traders See Room for $100K but Little Beyond
PositiveCryptocurrency
- Traders have adjusted their expectations as the likelihood of a 25 basis points interest rate cut at the upcoming FOMC meeting has increased significantly from 39% to nearly 87% in just a few days. Bitcoin has reached a key Fibonacci level, indicating potential for further price movement.
- This development is crucial as it suggests a more favorable macroeconomic environment for cryptocurrencies, potentially allowing Bitcoin to approach the $100,000 mark, while also highlighting the cautious sentiment among traders regarding any significant price increases beyond that level.
— via World Pulse Now AI Editorial System