VRITIMES
SG
Raise It With Press Release
TechnologyCommerce / LifestyleFood / BeverageEducationReal Estate / Architecture
Get Guaranteed Publications in minimum 40 Media Outlets for Just S$50 S$25
Try it >>
press release

/ Bitcoin Price Reaches $63K+ After The Fed Interest Rate Cut Announcement

Bitcoin Price Reaches $63K+ After The Fed Interest Rate Cut Announcement

Bitrue
Bitcoin price rose quite sharply after the Fed announced a rate cut. At the same time, whales sold BTC in large amounts. How does this affect the BTC price?
preview

Bitcoin price soaring up The Fed officially announced an interest rate cut. After struggling to reach $60,000 for a long time, BTC has now jumped to more than $63K.

Understand the current BTC price chart analysis. And is it true that there is a whale who sells BTC in large quantities? Check out the reasons and implications for the crypto industry.

Current Bitcoin Price Chart

When this article was written on September 20, 2024, the price of BTC to USDT is soaring at $63,749 with an increase of +2.93% in the last 24 hours. In the same period, BTC reached its highest point at $64,133.

Source: Market Bitrue
Source: Market Bitrue

The Bitcoin price chart above is taken from Market Bitrue. It can be seen that the graph gives a very positive signal for the current condition of BTC. In fact, the RSI number is far above 50. With the number 71.71, buying BTC tokens is becoming a popular trend compared to selling it.

The MACD indicator is also rising above the border line. The gap between the two lines indicating that BTC will soon experience an impressive bull run.

Current technical analysis is quite impressive. However, seeing that the flow of crypto coin prices is always fluctuating, you can always do research before making an investment. You must always do the DYOR technique.

To make it easier for you to do independent research, the Bitrue website can help you. Because, Bitrue provides easy access for you to check the price conditions of BTC and other crypto coins in real time.

Whales Selling BTC in Large Amounts

When the price of Bitcoin finally reached more than $63,000, a whale actually sold the BTC tokens he owned. No half-hearted, whate sold up to 1,030 BTC with a selling value of approximately $64.3 million on one of the global crypto exchanges.

This action certainly attracts attention. Moreover, BTC token holders are having fun celebrating the increase in BTC prices. However, selling tokens when their value rises is actually common in the crypto industry. This is a strategy to make a profit, especially when the token holder buys it when the price drops.

However, the slightest movement from investors in the crypto industry certainly has an impact on the state of the token. So, what is the impact of selling this large amount of BTC? Pay attention to the following points.

1. BTC prices can change along with selling large amounts of Bitcoin and affect the existing RSI indicator2. This BTC sale can trigger BTC price volatility

BTC and Its Popularity

After the Fed announced it would cut interest rates by 50 bps, Bitcoin prices tended to rise. This could trigger an increase in the prices of other tokens as well so that the crypto industry experiences a positive price shift.

Bitcoin is called the king of crypto for a reason. The reason is, when the price of BTC experiences an increase or decrease, the prices of other tokens will also be affected, both in positive and negative directions.

Even though when the price drops or during the Bitcoin halving the price of alternative coins will tend to rise because BTC dominance falls, Bitcoin's popularity remains brilliant. This oldest token will still be suitable for investment purposes.

When you are interested in investing in BTC, you can learn how to buy Bitcoin. Check prices Bitcoin to USD It can also be used as primary research to check current prices so that you can determine the appropriate allocation of investment funds according to your abilities.

About Bitrue
Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.
Contact
Fransiskus Email: fransiskus@bitrue.com

Categories
System / Website / Application developmentCryptocurrency

Other Press Release
Cryptocurrency
Ahead of Unlocking 524.03 Million Tokens, SOL Price Drops
Bitrue
Oct 02, 2024

Cryptocurrency
XRP Price Drops 4.01% after Unlocking 1 Billion Tokens and Latest News on XRP ETF
Bitrue
Oct 02, 2024

Cryptocurrency
Ethereum (ETH) Price Drops Again, Is It Predicted to Reach $10,000?
Bitrue
Oct 02, 2024

Cryptocurrency
Bitcoin Price Drops, Crypto Ecosystem to Face Price Correction?
Bitrue
Oct 01, 2024

Cryptocurrency
Price Memecoin (MEME) Rises Up to 10.24%, the World of Memecoins is Green!
Bitrue
Sep 30, 2024

Cryptocurrency
XRP Price Increases 0.68%, See How to Get Maximum Profit!
Bitrue
Sep 27, 2024

Mobile games
9 Schedule of Telegram Game Airdrop in October, There’s Major to X Empire
Bitrue
Sep 27, 2024

Cryptocurrency
5 List of Bitrue Airdrop Hot Events, Maximum Profits from Crypto Deposits and Trading
Bitrue
Sep 26, 2024

Mobile games
Hamster Kombat Super Campaign Bitrue, Get 100% Cashback and More Benefits!
Bitrue
Sep 25, 2024

Mobile games
Listing Soon, Find Out How Hamster Kombat Prices in Pre-Market!
Bitrue
Sep 25, 2024

Mobile games
Last Call! Hamster Kombat Airdrop Ends Tomorrow, Join Now!
Bitrue
Sep 25, 2024

Blockchain / Web3
Celebrate 6th Anniversary, Bitrue Gives Out Free Crypto up to 1,000,000 USDT!
Bitrue
Sep 23, 2024

Mobile games
3 Days Before Listing, Here's How to Claim the Hamster Kombat Airdrop on Bitrue
Bitrue
Sep 23, 2024

Blockchain / Web3
EigenLayer Foundation to Hold EIGEN Season 2 Stakedrop for 3 Recipients Only
Bitrue
Sep 20, 2024

Blockchain / Web3
Crypto Industry Heats Up After The Fed's Announcement, USDT Prices Also Rising?
Bitrue
Sep 20, 2024

Cryptocurrency
USDT on the TON Network: A Stablecoin on the Rise
Bitrue
Sep 19, 2024

Politics / Government / Local government
History is Made! Donald Trump Uses Bitcoin in First Transaction in New York
Bitrue
Sep 19, 2024

Mobile games
HMSTR Token Listing Soon, Hamster Kombat Season 1 will End on 20 September
Bitrue
Sep 18, 2024

Cryptocurrency
Ethereum Selling Pressure High, ETH Price Most Crisis Since 2021?
Bitrue
Sep 17, 2024

Cryptocurrency
Grayscale XRP Trust: An Important Step for XRP
Bitrue
Sep 17, 2024

Blockchain / Web3
TON Network Achieves Fantastic Achievements, DOGS and Pavel Durov Effect?
Bitrue
Sep 16, 2024

Mobile games
Bitrue Holds Hamster Kombat Airdrop, Distributes 10,000,000 HMSTR Tokens!
Bitrue
Sep 13, 2024

Mobile games
Hamster Kombat Listing Soon, Here's Everything You Need to Know
Bitrue
Sep 12, 2024

Mobile games
DOGS Becomes Top 3 Crypto with 5+ Million Unique Holders, Competing with USDT and ETH?
Bitrue
Sep 11, 2024

Mobile games
Hamster Kombat (HMSTR) Airdrop – The Biggest Web3 Success Story of 2024
Bitrue
Sep 05, 2024

Bitrue
URL
https://www.bitrue.com/
Industry
Service
Weekly Release Ranking
Sep 23, 2024 2024
3 Days Before Listing, Here's How to Claim the Hamster Kombat Airdrop on Bitrue
Bitrue
VRITIMES Video
vritimes na euvritimes jpFree consultationManual EbookPR College