đBLUM All đčYouTube Video Codesđ â«ïž Secure Your Crypto Code đ BEST PROJECT EVER â«ïžHow to Analyze crypto? Code đ VALUE â«ïžTon Voices Live Code đ I LOVE BLUM â«ïžForks Explained? Code:đ  GO GET â«ïžNavigating crypto Code đ HEYBLUM
U.S. CPI data will be released today at 6.00 PM ( IST ) 12.30 PM UTC . This data is key for the Fedâs next move. The current expectation is for a small rate cut of 25bps at next weekâs meeting (September 18). However, if the data is very positive, a 50bps rate cut isn't entirely off the table.
In my view, if the data is favorable, the market will likely start pricing in more rate cuts for Q4 2024 and early 2025.
đš LATEST: Bitcoin Spot ETFs saw another significant outflows on Sept 6 with a total outflow of $170.0M across major providers.
âą Fidelity FBTC led the outflows, shedding $85.5 million. âą Grayscale GBTC wasnât far behind seeing $52.9 million in outflows. âą Bitwise BITB also saw notable outflows of $14.3 million.
Taking profit is an art! đš Do you know the difference between TPSL and Trailing Stop orders?
âïž TPSL controls execution price of your exit strategy; âïž Trailing Stop protects your gains as your trade stays open when prices move favorably. đ
Bitcoin chart signals possible âextremelyâ quick move to $68K â Traders
Bitcoin traders are eyeing $68,000 if it can stay above $64,000, a level it has struggled to hold above for 20 days. Bitcoin chart signals possible âextremelyâ quick move to $68K â Traders Crypto traders are spotting a pattern forming on Bitcoinâs price chart that may possibly lead to its price moving closer to reclaiming its 2021 all-time highs.
In an Aug. 24 analysis video, pseudonymous crypto trader Mister Crypto pointed to the Bitcoin BTC
$64,087 price chart andBTC tickers down $64,087 price chart and explained that when Bitcoin breaks above the $64,000 level, it is âvery likelyâ to return toward the $68,000 level, which it hasnât reached since July 30. Bitcoin price chart. Source: Mister Crypto The approach to $68,000 would lead traders to speculate on when it might surpass its 2021 all-time high of $68,991, a key level closely watched in 2024. At the time of publication, Bitcoin is trading just above the level at $64,245, according to CoinMarketCap data. However, it only broke above $64,000 on Aug. 23 for the first time in 20 days and it struggled to hold above before retracing back toward $63,500. The breakthrough came after dovish comments from United States Federal Reserve Chair Jerome Powell, which further boosted confidence among US investors that interest rate cuts are underway. Although, he didnât give an exact timeline. $64,000 was previously seen as a key support of Bitcoin following the months after the approval of the spot Bitcoin exchange-traded funds (ETF) on Jan. 11.
However, a recent downturn on Aug. 5, otherwise known as âCrypto Black Monday,â saw this level switch into resistance for Bitcoin.
Mister Crypto warned investors that Bitcoinâs price is unlikely to make any major moves on the weekend, and its price is likely to consolidate around its current level.
Related: Bitcoin price taps $62K sell wall as analyst sees âup onlyâ for crypto
Meanwhile, crypto trader Elja told their 684,400 X followers that âItâs time for bulls to push Bitcoin towards $68K-$70K.â
One of Eljaâs reasons for the claim was the relative strength index (RSI), which suggests that Bitcoinâs price is not overbought yet.
When the RSI is above 70, it indicates that the market might be overbought. When it is below 30, it suggests that the market might be oversold.
Bitcoinâs RSI stands at 66.11 according to Bitbo data. During Bitcoinâs all-time high of $73,679 in March this year, the RSI surged to 79. $BTC $
BREAKING: PAVEL DUROV FACES 20 YEARS IN PRISON IN FRANCE
Telegram founder Pavel Durov is set to appear before a judge on Saturday evening, facing multiple charges, including terrorism, drug trafficking, fraud, money laundering, and child abuse content.
French media report that Durov, a dual French and Russian citizen, could face up to 20 years in prison.
His arrest is attributed to Telegram's lack of content moderation and his failure to cooperate with French law enforcement.
The charges stem from a search warrant issued by the French National Directorate of Judicial Police.