Bitcoin’s Price Surge: Fed Rate Cut Hopes Fuel Optimism

The possibility of a Federal Reserve rate cut is generating excitement in the cryptocurrency market, particularly for Bitcoin. This anticipation has brought technical indicators back to center stage as traders watch key price points closely. The 200-hour simple moving average (SMA) near $88,000 is currently acting as a significant resistance level, but its horizontal movement suggests diminishing selling pressure. A potential breakout above this line could signal a bullish trend reversal.