Bitcoin trade price is now back to the $67k level and the majority of the veteran Bitcoin traders called the last correction a healthy move for the Bitcoin bull run.
The current trade price of Bitcoin (BTC), the top Cryptocurrency by market cap, is $67.5k & this trade price has been 7% higher over the last 24 hours.
The trade price of BTC surged rapidly, after the US Federal Reserve meeting on economic policy.
In that meeting, Fed Chair Jerome Powell suggested that it would be “appropriate” to enact rate cuts later in the year. That means they decided to hold interest rates at current levels.
It is worth it to know that an increase in interest rate may result in the outflow of money from any risky financial market (Stock, crypto, etc) and decreasing interest rate may push people to use their money for high returns from the volatile financial market investment.
However, the sentiments around Bitcoin bull changed rapidly in the spot Bitcoin trade exchanges but the opposite of it the US bitcoin spot ETF market saw an outflow of net $260 million.
Crypto enthusiasts noted that different kinds of sentiments around Bitcoin investment on different markets is a sign that Bitcoin spot ETF products are highly isolated from the Bitcoin market.
However, some crypto analysts believe that there is a huge chance that the trade price of Bitcoin may face correction again and in that situation, Bitcoin will reach the $62k level, which is a strong level.
On the other hand, many Bitcoin minimalists believe that the situation of Bitcoin is now totally different from the last Crypto bull & Bitcoin halving cycles and we should not take the chance, otherwise we will miss the opportunity.
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