The impending easing of monetary policy by the Federal Reserve may encourage BTC bulls to overcome the short-term downtrend, which could help bitcoin reach $66,000.
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Although Bitcoin is experiencing upside resistance in the short term, analysts at ByBit believe that the bull market that began in early 2023 will continue into 2025.
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Bitcoin recently crossed the $50,000 mark in early August, an impressive 20% gain. However, due to the soaring price, the cryptocurrency seems to be trapped in a narrow range, fluctuating between $57,000 and $63,000. For many, this stagnation is synonymous with boredom. But while some traders are bored by the consolidation, others see golden opportunities. These people, whether they are big investors or committed holders, continue to accumulate Bitcoin.
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Babylon said on the X platform that next week it will open the first phase of the Bitcoin pledge mainnet, where bitcoin holders will be able to start locking in BTC for pledges.
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The important $60,000 barrier has been crossed by Bitcoin (BTC) once more, but the market is still cautious with significant resistance to this rally in the near future.
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The BTC trading price had briefly surged above $60,000 before a wave of selling pressure quickly pushed the price back down. While reaching $60,000 is a significant psychological boost, it's important to keep an eye on key levels that could determine Bitcoin's short-term trajectory.
More signals will be given on the channel
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Bitcoin finds itself once again at the heart of controversy. This time, the debate focuses on its environmental impact, fueled by a report from the International Monetary Fund (IMF) accusing bitcoin of significantly contributing to carbon emissions. However, a well-known Bitcoin advocate, Daniel Batten, does not agree with this perspective. With well-crafted arguments, he stands against the IMF’s claims, offering a response that deserves our attention.
Will this move affect the future of Bitcoin? Let's wait and see
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