Bitcoin Market Shows Signs of Weakening Despite November Hopes

The cryptocurrency market is entering a cautious phase in November as analysts predict a potential slowdown in Bitcoin’s price rally despite hopes for a significant surge during the “Moonvember” period. Uncertainties around the Federal Reserve’s monetary policy and macroeconomic factors are contributing to this shift. Recent data suggests that Bitcoin has cooled off after reaching record highs, with prices currently hovering around $103,000. The uncertainty is further fueled by mixed signals about future Fed actions, as recent forecasts point towards a less than 70% probability of a rate cut in December.