Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

Bitcoin Price Prediction as BTC Hits $60k After FED’s Rate Cut Comments – What’s Next?

Bitcoin Price Prediction

Bitcoin (BTC/USD) recently crossed the $60,000 threshold, only to face new challenges from Federal Reserve sentiment. The cryptocurrency, currently trading around $60,800, experienced a modest drop of about 1.50% over the last day, keeping the bitcoin price prediction bearish.

This market movement aligns closely with remarks from Federal Reserve Governor Michelle Bowman, as reported by financial journalist Walter Bloomberg, indicating that rate cuts are not seen as necessary this year.

FED’S BOWMAN: DOESN’T SEE RATE CUTS AS WARRANTED THIS YEAR

— *Walter Bloomberg (@DeItaone) May 10, 2024

These comments from a Fed official have injected a note of caution into the market, moderating expectations that had been buoyed by the possibility of looser monetary policy.

With this backdrop, investors are closely monitoring further economic updates to gauge potential shifts in Fed strategy that could influence Bitcoin’s market dynamics in the upcoming months.

Bitcoin Price Prediction


Bitcoin (BTC/USD) is trading at $60,800, marking a decline of around 1.50% over the last 24 hours. Given this slight decline, the market seems concerned about Bitcoin price prediction.

Yet, BTC continues to be the most valuable cryptocurrency, with a market capitalization of about $1.2 trillion. The trading volume within this period has reached a substantial $22 billion, reflecting the high level of activity in the Bitcoin market.

From a technical perspective, Bitcoin’s key pivot point is $60,975. Immediate resistance is found at $63,400, with further barriers at $65,050 and $67,160. These levels will need to be surpassed for Bitcoin to regain bullish momentum.

Conversely, immediate support lies at $59,075. If this level fails to hold, subsequent support levels at $56,640 and $54,400 will become the focal points for potential bearish pressure.

Bitcoin Price Prediction – Source: Tradingview

The Relative Strength Index (RSI) is currently at 38, suggesting a potential oversold condition but also indicating that there might be further downside if market sentiment does not improve. Moreover, the 50-day Exponential Moving Average (EMA), positioned at $62,151, is providing significant resistance.

In summary, Bitcoin currently shows a bearish trend as it trades below the critical pivot point of $60,975. Maintaining this position might result in additional decreases, potentially reaching the support level of $59,075.

You might also like

Last Chance to Buy Dogeverse Before Launch – Over $15M Raised


Dogeverse, the rapidly expanding meme coin network that spans multiple blockchains, including Ethereum, BNB Smart Chain, Polygon, and soon Solana, Base, and Avalanche, has made a notable splash in the cryptocurrency world. The project has successfully raised over $15 million, surpassing its initial goal of just under $13 million. Currently priced at $0.00031, Dogeverse is set for a price increase in less than a day.

This broad expansion aims to blend the popular Doge appeal with superior blockchain capabilities, promising greater utility and wider adoption. With the launch imminent, this is your last chance to invest in Dogeverse at the current rate.

For more updates and to engage with the community, follow Dogeverse’s official channels on Twitter and Telegram.

Secure Your Dogeverse Today

The post Bitcoin Price Prediction as BTC Hits $60k After FED’s Rate Cut Comments – What’s Next? appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Oracleofomahasays.com