Bitcoin’s price is climbing as market expectations for a 50 basis point interest rate cut by the Fed next week fuel bullish sentiment. The digital asset has breached $114,000, Ethereum ($ETH) surpassing $4,400, and XRP exceeding $3. Dogecoin (DOGE) experienced a notable gain of 5% on a daily basis, reaching $0.25 and increasing its weekly gains to 15.9%. This rise is being attributed to the anticipated Fed rate cut, growing DeFi applications, and increased institutional investment. 💰 But CF Benchmarks, a British financial giant, has pointed out that Bitcoin currently sits below its fair value range compared to US M2 growth. They note that the gap between M2 growth and BTC price is historically wide – the largest since August 2024 – which signals an opportunity for further growth. Their analysis highlights this historical correlation, suggesting significant price increases in Bitcoin are likely if this divergence persists. Analysts cite similar patterns from 2016, 2019, and 2021 when these divergences occurred. They suggest a strong entry point based on the current gap in value. Meanwhile, FxPro chief market analyst Alex Kuptsikevich cautions that while the bullish signals are positive, technical analysis reveals the bulls still need to hold the current price levels at around $112,000. They’re looking for support above $115,000 to signal a return to an upward trend. This resistance level is closely tied to the 50-day moving average and remains crucial for further market growth, but only if it holds strong.