Are you ready to stay ahead of the game and make informed decisions in the ever-changing world of cryptocurrencies? Look no further than Extreme Investor Network for the latest updates and analysis on BTC and other digital assets.
In the midst of short-term concerns about potential net outflows, the current inflow trends in September are helping to balance supply and demand dynamics. This is crucial information for investors looking to navigate the uncertainty of the market.
Our US Economic Calendar feature provides insights into key events that could impact the price of BTC. Keep an eye on the FOMC Meeting Minutes and upcoming speeches from Fed members like John Williams, Thomas Barkin, Austan Goolsbee, and Philip Jefferson. Their reactions to economic data and the Fed’s rate path could have a significant influence on BTC demand.
The Fed’s rate path plays a crucial role in shaping buyer demand for riskier assets, including BTC. Our experts predict that support for multiple Q4 2024 rate cuts could drive BTC towards $65,000, while calls to delay rate cuts could push BTC below $60,000.
Stay alert and informed with our latest news and analysis as BTC supply risk, Fed speakers, and developments in the Middle East continue to impact price trends. A potential escalation in the Middle East conflict could trigger a flight to safety, affecting BTC demand.
When it comes to technical analysis, BTC is currently trading above the 50-day and 200-day EMAs, signaling bullish price signals. Keep an eye out for a breakout above the $64,000 resistance level, which could set the stage for a move towards the September 27 high of $66,520. Conversely, a drop below the 50-day EMA could signal a move towards the $60,365 support level.
With a 51.52 14-day RSI reading, BTC may see a push towards the $69,000 resistance level before entering overbought territory. Stay informed and make strategic decisions based on the latest updates and analysis from Extreme Investor Network.