The U.S. Federal Reserve’s 25-basis-point rate cut sparked a brief bitcoin price rally to $118,000, but a bearish doji candle signals a potential reversal. Support at $111,300, with a deeper slide possible.
Bitcoin closed at $115,390 last week, with $118,000 as the next hurdle. Wednesday’s Federal Reserve rate decision could spark volatility if the expected 0.25% cut is delayed.
The bitcoin price is yo-yoing around like a piñata. What is going on? Who shoved it? And what’s it to do with Powell, the Fed, the bitcoin treasury companies and, uh, just ordinary markets doing markets-y things?
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