Bitcoin’s brief pullback from its all-time high has not altered the bullish longer-term view, but bulls will have to swiftly push the price above $126,200 to retain the advantage.
Bitcoin’s volatility may rise after today’s FOMC, but it is unlikely to result in a new directional move, hinting at continued range-bound action for a few more days.
Solid inflows into spot Bitcoin ETFs signal sustained demand from the bulls, increasing the likelihood of a break above the $117,500 resistance. Will altcoins follow?
Bitcoin and altcoins picked up momentum after the softer-than-expected US inflation numbers boosted traders' confidence for a rate cut during the Federal Reserve's next meeting.