The failure of the bears to sink Bitcoin’s price below $25,000 support ignited buying interest last week. The positive momentum picked up further at the start of the new week, and buyers are trying to sustain Bitcoin’s (BTC) price above $27,000.
Market participants seem to be buoyant on expectations that the Federal Reserve will not hike rates again this year. The CME FedWatch Tool shows a 58% probability that the Fed funds rate will remain at the current level even in the December meeting.
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